Amundi Sells 24,189 Shares of Regal Rexnord Co. (NYSE:RRX)

Amundi cut its stake in Regal Rexnord Co. (NYSE:RRX) by 51.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,185 shares of the company’s stock after selling 24,189 shares during the quarter. Amundi’s holdings in Regal Rexnord were worth $3,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after acquiring an additional 28,278 shares during the period. Geode Capital Management LLC grew its stake in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares during the period. First Hawaiian Bank bought a new stake in shares of Regal Rexnord in the fourth quarter worth approximately $811,000. PNC Financial Services Group Inc. grew its stake in shares of Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,783 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after acquiring an additional 77,215 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $116.44 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 1-year low of $113.73 and a 1-year high of $185.28. The company has a market capitalization of $7.72 billion, a P/E ratio of 39.47, a P/E/G ratio of 1.37 and a beta of 1.11. The firm’s 50 day simple moving average is $142.83 and its two-hundred day simple moving average is $158.04.

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

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

RRX has been the subject of a number of research analyst reports. Citigroup reduced 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 note on Tuesday, January 14th. Barclays cut their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus target price of $195.75.

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.