William Blair Investment Management LLC Sells 36,633 Shares of Regal Rexnord Co. (NYSE:RRX)

William Blair Investment Management LLC decreased its position in shares of Regal Rexnord Co. (NYSE:RRX) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 847,841 shares of the company’s stock after selling 36,633 shares during the quarter. William Blair Investment Management LLC’s holdings in Regal Rexnord were worth $131,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of 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 boosted its stake in Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares during the period. Franklin Resources Inc. boosted its stake in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Regal Rexnord by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock worth $188,729,000 after purchasing an additional 12,301 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $116.44 on Monday. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 39.47, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 1-year low of $113.73 and a 1-year high of $185.28. The stock’s 50-day moving average is $142.83 and its 200 day moving average is $158.04.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. Regal Rexnord’s dividend payout ratio is 47.46%.

Analyst Ratings Changes

RRX has been the subject of several analyst reports. Citigroup cut their target price 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. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, The Goldman Sachs Group raised their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $195.75.

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.