Barclays PLC Decreases Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Barclays PLC cut its holdings in shares of Regal Rexnord Co. (NYSE:RRXFree Report) by 49.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,677 shares of the company’s stock after selling 37,541 shares during the period. Barclays PLC owned about 0.06% of Regal Rexnord worth $5,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Belpointe Asset Management LLC increased its holdings in Regal Rexnord by 139.1% during the 1st quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock worth $29,000 after purchasing an additional 121 shares during the period. Janiczek Wealth Management LLC increased its holdings in Regal Rexnord by 45.4% in the third quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock valued at $40,000 after buying an additional 88 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Regal Rexnord in the first quarter valued at $42,000. ICA Group Wealth Management LLC purchased a new stake in Regal Rexnord during the 4th quarter worth about $57,000. Finally, Spire Wealth Management boosted its position in shares of Regal Rexnord by 46.0% during the 2nd quarter. Spire Wealth Management now owns 406 shares of the company’s stock worth $62,000 after acquiring an additional 128 shares in the last quarter. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of RRX opened at $152.04 on Friday. The company’s 50 day simple moving average is $139.69 and its 200-day simple moving average is $138.73. The firm has a market cap of $10.09 billion, a PE ratio of -174.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $166.00. The company has a current ratio of 2.58, a quick ratio of 1.59 and a debt-to-equity ratio of 1.05.

Regal Rexnord (NYSE:RRXGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 EPS. As a group, equities analysts predict that Regal Rexnord Co. will post 10.73 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 0.92%. Regal Rexnord’s payout ratio is -160.92%.

Analysts Set New Price Targets

RRX has been the topic of several research analyst reports. Wolfe Research raised Regal Rexnord from a “peer perform” rating to an “outperform” rating and set a $151.00 target price on the stock in a research report on Monday, December 11th. TheStreet downgraded shares of Regal Rexnord from a “b-” rating to a “c” rating in a research report on Thursday, November 2nd. Finally, KeyCorp dropped their target price on shares of Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Check Out Our Latest Stock Analysis on RRX

About Regal Rexnord

(Free Report)

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. It operates in 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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