Choreo LLC Has $454,000 Holdings in Regal Rexnord Co. (NYSE:RRX)

Choreo LLC trimmed its holdings in Regal Rexnord Co. (NYSE:RRX) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,957 shares of the company’s stock after selling 559 shares during the period. Choreo LLC’s holdings in Regal Rexnord were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RRX. Nomura Asset Management Co. Ltd. grew its holdings in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. grew its position in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after buying an additional 67 shares during the period. GAMMA Investing LLC grew its holdings in Regal Rexnord by 28.3% in the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock worth $167,000 after purchasing an additional 238 shares during the period. Weatherly Asset Management L. P. bought a new stake in Regal Rexnord in the 3rd quarter valued at about $180,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Regal Rexnord during the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RRX shares. Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Barclays cut their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Oppenheimer lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $199.50.

Regal Rexnord Stock Up 2.0 %

RRX opened at $138.39 on Thursday. The business’s fifty day simple moving average is $157.56 and its 200 day simple moving average is $162.58. Regal Rexnord Co. has a 52 week low of $130.94 and a 52 week high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.17 billion, a PE ratio of 46.91, a P/E/G ratio of 1.38 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, research analysts expect that Regal Rexnord Co. will post 10.32 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company 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 dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. Regal Rexnord’s dividend payout ratio is currently 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.