Regal Rexnord Co. (NYSE:RRX) Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its position in Regal Rexnord Co. (NYSE:RRX) by 42.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,563 shares of the company’s stock after selling 1,870 shares during the period. Virtu Financial LLC’s holdings in Regal Rexnord were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Prelude Capital Management LLC raised its position in Regal Rexnord by 0.4% during the 4th quarter. Prelude Capital Management LLC now owns 55,881 shares of the company’s stock worth $8,272,000 after buying an additional 238 shares during the last quarter. Forest Avenue Capital Management LP increased its stake in shares of Regal Rexnord by 141.7% in the fourth quarter. Forest Avenue Capital Management LP now owns 136,298 shares of the company’s stock worth $20,175,000 after acquiring an additional 79,900 shares during the period. Bain Capital Public Equity Management II LLC raised its holdings in shares of Regal Rexnord by 176.2% during the fourth quarter. Bain Capital Public Equity Management II LLC now owns 212,748 shares of the company’s stock worth $31,491,000 after purchasing an additional 135,732 shares during the last quarter. Bain Capital Public Equity LP lifted its position in Regal Rexnord by 161.9% during the fourth quarter. Bain Capital Public Equity LP now owns 30,058 shares of the company’s stock valued at $4,449,000 after purchasing an additional 18,579 shares during the period. Finally, Clearfield Capital Management LP acquired a new position in Regal Rexnord during the fourth quarter valued at $4,159,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RRX shares. KeyCorp lifted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird raised their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Oppenheimer boosted their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, Barclays dropped their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Regal Rexnord currently has an average rating of “Buy” and a consensus target price of $192.00.

Regal Rexnord Stock Up 2.1 %

Regal Rexnord stock opened at $142.53 on Thursday. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The stock has a market capitalization of $9.48 billion, a PE ratio of -296.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The business has a 50 day simple moving average of $154.82 and a 200-day simple moving average of $154.18.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, analysts anticipate that Regal Rexnord Co. will post 9.82 EPS 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 issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s payout ratio is -291.67%.

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.