Raymond James Financial Inc. Takes $22.33 Million Position in Regal Rexnord Co. (NYSE:RRX)

Raymond James Financial Inc. acquired a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 143,908 shares of the company's stock, valued at approximately $22,325,000. Raymond James Financial Inc. owned about 0.22% of Regal Rexnord at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after acquiring an additional 77 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock worth $332,000 after buying an additional 85 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Regal Rexnord by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after acquiring an additional 101 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after acquiring an additional 105 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Regal Rexnord by 472.4% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RRX shares. Barclays reduced 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. The Goldman Sachs Group dropped their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. KeyCorp cut their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, Citigroup lowered their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Regal Rexnord has an average rating of "Moderate Buy" and an average price target of $170.75.

Regal Rexnord Price Performance

Shares of RRX traded up $3.32 during trading hours on Thursday, hitting $105.91. 122,603 shares of the stock were exchanged, compared to its average volume of 531,365. The stock's 50-day moving average price is $115.90 and its two-hundred day moving average price is $147.23. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 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%. Research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, March 31st. 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.