Regal Rexnord Co. (NYSE:RRX) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its stake in Regal Rexnord Co. (NYSE:RRX) by 50.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 560,701 shares of the company’s stock after selling 580,853 shares during the period. Janus Henderson Group PLC owned approximately 0.84% of Regal Rexnord worth $100,984,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RRX. Raymond James & Associates boosted its stake in Regal Rexnord by 45.3% during the 4th quarter. Raymond James & Associates now owns 111,663 shares of the company’s stock valued at $16,528,000 after purchasing an additional 34,802 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Regal Rexnord by 78.8% during the fourth quarter. Pacer Advisors Inc. now owns 9,970 shares of the company’s stock worth $1,476,000 after acquiring an additional 4,393 shares during the period. Global Retirement Partners LLC raised its position in Regal Rexnord by 63.9% in the fourth quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock worth $109,000 after acquiring an additional 315 shares in the last quarter. Trust Point Inc. bought a new position in shares of Regal Rexnord during the 4th quarter valued at about $264,000. Finally, International Assets Investment Management LLC grew its stake in shares of Regal Rexnord by 11,000.0% in the 4th quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RRX shares. Robert W. Baird raised their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Raymond James assumed coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating on the stock. KeyCorp lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Barclays reduced their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $188.00.

Regal Rexnord Stock Up 1.2 %

NYSE RRX traded up $1.90 on Wednesday, reaching $160.36. The stock had a trading volume of 188,142 shares, compared to its average volume of 449,152. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The business has a 50 day moving average price of $144.06 and a 200 day moving average price of $154.95. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of -330.13, a P/E/G ratio of 1.60 and a beta of 1.06.

Regal Rexnord (NYSE:RRX) last announced 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. 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 for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business posted $2.22 EPS. Regal Rexnord’s quarterly revenue was up 26.4% on a year-over-year basis. On average, analysts forecast that Regal Rexnord Co. will post 9.73 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

About Regal Rexnord

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.