Massachusetts Financial Services Co. MA Sells 38,124 Shares of Regal Rexnord Co. (NYSE:RRX)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,766,805 shares of the company’s stock after selling 38,124 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Regal Rexnord were worth $429,214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its stake in Regal Rexnord by 6.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,265 shares of the company’s stock valued at $817,000 after buying an additional 328 shares during the period. Clearbridge Investments LLC raised its position in shares of Regal Rexnord by 10.1% in the 4th quarter. Clearbridge Investments LLC now owns 617,762 shares of the company’s stock valued at $95,833,000 after acquiring an additional 56,590 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Regal Rexnord during the 4th quarter worth approximately $747,000. Brown Brothers Harriman & Co. grew its holdings in Regal Rexnord by 6.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,485 shares of the company’s stock valued at $385,000 after purchasing an additional 150 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in Regal Rexnord by 13.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company’s stock valued at $1,446,000 after purchasing an additional 1,104 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RRX. Oppenheimer reduced their price target 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. Citigroup decreased 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 “buy” rating to a “hold” rating in a report on Monday. Barclays cut their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group lowered their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.88.

Regal Rexnord Price Performance

NYSE RRX opened at $121.80 on Thursday. The firm’s 50 day moving average is $133.45 and its 200-day moving average is $154.90. 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 market capitalization of $8.07 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12-month low of $111.15 and a 12-month high of $185.28.

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

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.15%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

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.