William Blair Investment Management LLC Sells 36,633 Shares of Regal Rexnord Co. (NYSE:RRX)

William Blair Investment Management LLC cut its stake in Regal Rexnord Co. (NYSE:RRX) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847,841 shares of the company’s stock after selling 36,633 shares during the period. William Blair Investment Management LLC owned 1.28% of Regal Rexnord worth $131,526,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $83,460,000. Westfield Capital Management Co. LP boosted its holdings in shares of Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after buying an additional 399,649 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after buying an additional 363,728 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of Regal Rexnord by 35.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock worth $137,150,000 after purchasing an additional 232,509 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Regal Rexnord during the fourth quarter worth approximately $22,325,000. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RRX. Barclays lowered their target price on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. The Goldman Sachs Group upped their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Trading Up 1.3 %

Shares of Regal Rexnord stock opened at $116.44 on Monday. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28. The firm has a market cap of $7.72 billion, a PE ratio of 39.47, a P/E/G ratio of 1.37 and a beta of 1.11. The stock has a fifty day moving average price of $142.83 and a 200-day moving average price of $158.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Equities research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.