Thrivent Financial for Lutherans Sells 887 Shares of Regal Rexnord Co. (NYSE:RRX)

Thrivent Financial for Lutherans decreased its position in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,053 shares of the company’s stock after selling 887 shares during the period. Thrivent Financial for Lutherans owned 0.20% of Regal Rexnord worth $20,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after acquiring an additional 363,728 shares during the period. State Street Corp raised its position in shares of Regal Rexnord by 1.3% during the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after buying an additional 24,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Regal Rexnord by 6.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock valued at $213,971,000 after buying an additional 83,823 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Regal Rexnord by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after buying an additional 12,301 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 0.3 %

NYSE RRX opened at $123.71 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $140.01 and a two-hundred day moving average of $156.90. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52 week low of $113.73 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Analyst Ratings Changes

RRX has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays reduced their price objective on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $195.75.

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.