Leeward Investments LLC MA Trims Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Leeward Investments LLC MA reduced its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 198,921 shares of the company’s stock after selling 12,035 shares during the period. Regal Rexnord comprises approximately 1.5% of Leeward Investments LLC MA’s portfolio, making the stock its 7th biggest holding. Leeward Investments LLC MA owned about 0.30% of Regal Rexnord worth $30,859,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its stake in shares of Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares during the period. 1620 Investment Advisors Inc. boosted its stake in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after purchasing an additional 95 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Regal Rexnord by 30.3% during the third 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 period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX opened at $134.50 on Friday. The stock has a fifty day simple moving average of $152.87 and a two-hundred day simple moving average of $161.67. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. Research analysts predict 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. Stockholders 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 annualized dividend and a dividend yield of 1.04%. Regal Rexnord’s payout ratio is presently 47.46%.

Analyst Ratings Changes

RRX has been the subject of a number of research analyst reports. Robert W. Baird dropped their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Oppenheimer dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Barclays dropped their price target on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, The Goldman Sachs Group raised their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.75.

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.