Raymond James & Associates Increases Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Raymond James & Associates boosted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 45.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,663 shares of the company's stock after purchasing an additional 34,802 shares during the period. Raymond James & Associates owned about 0.17% of Regal Rexnord worth $16,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in Regal Rexnord by 13.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company's stock valued at $50,649,000 after acquiring an additional 42,110 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Regal Rexnord by 7.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company's stock valued at $548,000 after acquiring an additional 253 shares in the last quarter. UBS Group AG increased its position in Regal Rexnord by 58.8% in the 3rd quarter. UBS Group AG now owns 90,990 shares of the company's stock valued at $13,001,000 after acquiring an additional 33,689 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Regal Rexnord during the 3rd quarter worth approximately $491,000. Finally, Comerica Bank acquired a new stake in shares of Regal Rexnord during the 2nd quarter worth approximately $4,474,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Trading Down 0.2 %

NYSE RRX traded down $0.38 during trading on Wednesday, reaching $173.99. 350,938 shares of the stock traded hands, compared to its average volume of 467,680. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of -199.99, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14. The stock's 50-day moving average price is $162.85 and its 200 day moving average price is $142.25. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. The business's revenue was up 29.2% on a year-over-year basis. Analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, March 27th. Regal Rexnord's payout ratio is currently -160.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RRX shares. Barclays lifted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an "overweight" rating in a research report on Tuesday. KeyCorp lifted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, March 25th. Wolfe Research upgraded shares of Regal Rexnord from a "peer perform" rating to an "outperform" rating and set a $151.00 price target for the company in a research report on Monday, December 11th. Finally, Oppenheimer boosted their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $197.00.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Jerrald R. Morton sold 2,992 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares of the company's stock, valued at $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares of the company's stock, valued at $4,821,516.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by corporate insiders.

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.