Thrivent Financial for Lutherans Lowers Stake in Regal Rexnord Co. (NYSE:RRX)

Thrivent Financial for Lutherans reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 130,053 shares of the company’s stock after selling 887 shares during the period. Thrivent Financial for Lutherans’ holdings in Regal Rexnord were worth $20,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Regal Rexnord by 13.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,626 shares of the company’s stock valued at $407,000 after acquiring an additional 305 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Regal Rexnord by 3.1% in the fourth quarter. Natixis Advisors LLC now owns 89,606 shares of the company’s stock valued at $13,901,000 after acquiring an additional 2,673 shares in the last quarter. LBP AM SA raised its holdings in shares of Regal Rexnord by 0.5% in the fourth quarter. LBP AM SA now owns 29,447 shares of the company’s stock valued at $4,568,000 after acquiring an additional 156 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. Finally, Erste Asset Management GmbH raised its holdings in Regal Rexnord by 1.6% in the fourth quarter. Erste Asset Management GmbH now owns 38,012 shares of the company’s stock worth $5,950,000 after purchasing an additional 609 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RRX has been the subject of a number of recent research reports. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Barclays reduced their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord Stock Performance

RRX opened at $123.71 on Friday. Regal Rexnord Co. has a 52-week low of $113.73 and a 52-week high of $185.28. 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 cap of $8.20 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The firm’s 50-day moving average price is $140.01 and its 200-day moving average price is $156.90.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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%. As a group, equities analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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.