Oppenheimer Asset Management Inc. Cuts Position in Regal Rexnord Co. (NYSE:RRX)

Oppenheimer Asset Management Inc. lessened its stake in Regal Rexnord Co. (NYSE:RRXFree Report) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,226 shares of the company’s stock after selling 466 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Regal Rexnord were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. US Bancorp DE acquired a new stake in shares of Regal Rexnord during the first quarter worth about $702,000. Citigroup Inc. acquired a new stake in Regal Rexnord in the first quarter valued at about $3,124,000. AlphaCrest Capital Management LLC acquired a new stake in Regal Rexnord in the first quarter valued at about $347,000. Great West Life Assurance Co. Can acquired a new stake in Regal Rexnord in the first quarter valued at about $5,758,000. Finally, Synovus Financial Corp acquired a new stake in Regal Rexnord in the first quarter valued at about $1,608,000. Institutional investors and hedge funds own 96.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. KeyCorp reduced their price objective on shares of Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Wolfe Research raised shares of Regal Rexnord from a “peer perform” rating to an “outperform” rating and set a $151.00 target price for the company in a report on Monday, December 11th. Finally, TheStreet cut shares of Regal Rexnord from a “b-” rating to a “c” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Get Our Latest Stock Analysis on RRX

Regal Rexnord Trading Up 2.7 %

Shares of RRX opened at $152.04 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.58 and a quick ratio of 1.59. The firm has a 50 day simple moving average of $139.69 and a 200-day simple moving average of $138.73. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $166.00. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of -174.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09.

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

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors 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 dividend payout ratio (DPR) is currently -160.92%.

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.

Featured Stories

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

Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.