US Bancorp DE Sells 417 Shares of Regal Rexnord Co. (NYSE:RRX)

US Bancorp DE decreased its position in shares of Regal Rexnord Co. (NYSE:RRXGet Rating) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,996 shares of the company’s stock after selling 417 shares during the quarter. US Bancorp DE’s holdings in Regal Rexnord were worth $561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Baird Financial Group Inc. lifted its position in Regal Rexnord by 1.2% during the second quarter. Baird Financial Group Inc. now owns 7,269 shares of the company’s stock worth $825,000 after purchasing an additional 85 shares during the period. CWM LLC lifted its position in Regal Rexnord by 63.0% during the second quarter. CWM LLC now owns 225 shares of the company’s stock worth $26,000 after purchasing an additional 87 shares during the period. State of Alaska Department of Revenue lifted its position in Regal Rexnord by 1.0% during the second quarter. State of Alaska Department of Revenue now owns 9,628 shares of the company’s stock worth $1,092,000 after purchasing an additional 95 shares during the period. Quadrant Capital Group LLC lifted its position in Regal Rexnord by 15.4% during the second quarter. Quadrant Capital Group LLC now owns 742 shares of the company’s stock worth $84,000 after purchasing an additional 99 shares during the period. Finally, Riverview Trust Co lifted its position in Regal Rexnord by 26.3% during the second quarter. Riverview Trust Co now owns 523 shares of the company’s stock worth $59,000 after purchasing an additional 109 shares during the period. Institutional investors own 99.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird lowered their target price on Regal Rexnord from $174.00 to $167.00 in a research note on Wednesday, November 2nd. Oppenheimer lowered their target price on Regal Rexnord to $180.00 in a research note on Wednesday, December 14th. StockNews.com assumed coverage on Regal Rexnord in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Finally, Wolfe Research downgraded Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $172.60.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $134.73 on Friday. The business has a 50 day moving average of $125.44 and a 200-day moving average of $132.64. Regal Rexnord Co. has a 1 year low of $108.28 and a 1 year high of $166.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.89 and a quick ratio of 1.60. The company has a market capitalization of $8.91 billion, a P/E ratio of 23.64, a P/E/G ratio of 1.27 and a beta of 1.08.

Regal Rexnord (NYSE:RRXGet Rating) last released its quarterly earnings data on Monday, October 31st. The company reported $2.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.66. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Regal Rexnord had a return on equity of 10.91% and a net margin of 7.37%. On average, equities research analysts predict that Regal Rexnord Co. will post 10.41 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, December 29th. Regal Rexnord’s dividend payout ratio is presently 24.56%.

About Regal Rexnord

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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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