Massachusetts Financial Services Co. MA Has $429.21 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,766,805 shares of the company’s stock after selling 38,124 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 4.18% of Regal Rexnord worth $429,214,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RRX. JPMorgan Chase & Co. increased its stake in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares during the period. Geode Capital Management LLC raised its holdings in shares of Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares in the last quarter. First Hawaiian Bank acquired a new stake in Regal Rexnord during the fourth quarter valued at $811,000. Franklin Resources Inc. increased its position 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Regal Rexnord by 16.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock worth $2,613,000 after purchasing an additional 2,414 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $121.80 on Thursday. The stock has a fifty day moving average price of $133.45 and a two-hundred day moving average price of $154.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 52-week low of $111.15 and a 52-week high of $185.28. The firm has a market capitalization of $8.07 billion, a P/E ratio of 41.29, a P/E/G ratio of 1.37 and a beta of 1.11.

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

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RRX. Citigroup dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Barclays lowered their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.88.

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.