Corient Private Wealth LLC Has $976,000 Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Corient Private Wealth LLC trimmed its position in Regal Rexnord Co. (NYSE:RRX) by 34.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,288 shares of the company’s stock after selling 3,324 shares during the period. Corient Private Wealth LLC’s holdings in Regal Rexnord were worth $976,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. iA Global Asset Management Inc. grew its holdings in shares of Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after buying an additional 68 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after acquiring an additional 77 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Regal Rexnord by 4.1% during the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after purchasing an additional 85 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock worth $320,000 after purchasing an additional 101 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRX has been the topic of several analyst reports. Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Citigroup reduced their price objective 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. Finally, Oppenheimer dropped their target price 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 research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.13.

Regal Rexnord Stock Down 1.7 %

RRX opened at $120.80 on Friday. Regal Rexnord Co. has a twelve month low of $113.73 and a twelve month high of $185.28. The company’s 50-day moving average price is $136.83 and its two-hundred day moving average price is $155.77. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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%. As a group, equities analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

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.