Choreo LLC Decreases Position in Regal Rexnord Co. (NYSE:RRX)

Choreo LLC lessened its stake in Regal Rexnord Co. (NYSE:RRX) by 15.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,957 shares of the company’s stock after selling 559 shares during the period. Choreo LLC’s holdings in Regal Rexnord were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares during the period. GAMMA Investing LLC lifted its position in Regal Rexnord by 28.3% in the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock worth $167,000 after buying an additional 238 shares during the last quarter. Weatherly Asset Management L. P. purchased a new stake in shares of Regal Rexnord in the third quarter valued at $180,000. Finally, OneDigital Investment Advisors LLC bought a new position in Regal Rexnord during the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RRX shares. Robert W. Baird cut their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays reduced their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Oppenheimer cut their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.50.

Regal Rexnord Price Performance

Shares of RRX opened at $138.39 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.35. The company’s fifty day moving average price is $157.56 and its 200-day moving average price is $162.58. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The firm has a market capitalization of $9.17 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 1.38 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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 return on equity of 9.57% and a net margin of 3.25%. On average, equities research analysts predict that Regal Rexnord Co. will post 10.32 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. Investors 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 1.01%. 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.