Regal Rexnord Co. (NYSE:RRX) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,568 shares of the company’s stock after selling 92,353 shares during the quarter. Fisher Asset Management LLC owned approximately 0.56% of Regal Rexnord worth $55,000,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Xponance Inc. raised its stake in shares of Regal Rexnord by 1.2% during the 4th quarter. Xponance Inc. now owns 8,003 shares of the company’s stock worth $1,185,000 after buying an additional 91 shares during the period. Mariner LLC increased its position in shares of Regal Rexnord by 2.1% during the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock worth $789,000 after purchasing an additional 113 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Regal Rexnord by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 29,965 shares of the company’s stock worth $4,281,000 after purchasing an additional 153 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. increased its position in shares of Regal Rexnord by 0.9% during the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 18,451 shares of the company’s stock worth $2,731,000 after purchasing an additional 162 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

RRX stock opened at $138.52 on Monday. The business has a 50 day moving average price of $156.56 and a 200 day moving average price of $153.99. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of -288.58, a PEG ratio of 1.41 and a beta of 1.10. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.98 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 earnings per share. Equities research analysts anticipate that Regal Rexnord Co. will post 9.82 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. Regal Rexnord’s payout ratio is currently -291.67%.

Wall Street Analyst Weigh In

Several analysts recently commented on RRX shares. KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Oppenheimer raised their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. StockNews.com downgraded Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Robert W. Baird raised their price objective on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Barclays cut their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.00.

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.