Regal Rexnord Co. (NYSE:RRX) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 12.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,980 shares of the company’s stock after selling 574 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Regal Rexnord were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Regal Rexnord by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after purchasing an additional 24,847 shares in the last quarter. Capital World Investors increased its holdings in shares of Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock valued at $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Regal Rexnord by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock valued at $522,892,000 after purchasing an additional 135,154 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regal Rexnord by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock valued at $206,862,000 after purchasing an additional 30,688 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $180,918,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 1.6 %

Shares of RRX opened at $167.81 on Monday. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average is $150.43 and its two-hundred day moving average is $157.81. The stock has a market cap of $11.16 billion, a PE ratio of -349.60, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $2.56 EPS. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. Research analysts forecast that Regal Rexnord Co. will post 9.53 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 annualized dividend and a yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RRX. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. KeyCorp cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $189.83.

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.