Regal Rexnord Co. (NYSE:RRX) Shares Sold by Oarsman Capital Inc.

Oarsman Capital Inc. reduced its position in Regal Rexnord Co. (NYSE:RRX) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,854 shares of the company’s stock after selling 250 shares during the period. Oarsman Capital Inc.’s holdings in Regal Rexnord were worth $288,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new position in Regal Rexnord in the fourth quarter valued at about $235,188,000. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 20.1% during the fourth 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. JPMorgan Chase & Co. increased its stake in shares of Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock worth $106,106,000 after buying an additional 247,673 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after acquiring an additional 232,509 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Regal Rexnord during the 4th quarter valued at $22,325,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRX has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays reduced their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Monday, March 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.88.

Regal Rexnord Stock Down 3.8 %

Regal Rexnord stock opened at $98.77 on Friday. The firm has a market capitalization of $6.55 billion, a P/E ratio of 33.48, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a 50-day simple moving average of $130.83 and a 200-day simple moving average of $154.08. Regal Rexnord Co. has a one year low of $92.50 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 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%. As a group, equities analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Regal Rexnord 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.