Stifel Financial Corp Boosts Stock Position in Regal Rexnord Co. (NYSE:RRX)

Stifel Financial Corp raised its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,995 shares of the company's stock after acquiring an additional 5,245 shares during the quarter. Stifel Financial Corp owned approximately 0.10% of Regal Rexnord worth $10,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 137 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Regal Rexnord during the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the fourth quarter worth $33,000. Tobam purchased a new stake in shares of Regal Rexnord during the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after purchasing an additional 153 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 0.9 %

NYSE:RRX traded down $0.98 on Wednesday, reaching $105.93. 696,958 shares of the company's stock were exchanged, compared to its average volume of 537,817. The business has a fifty day moving average of $113.51 and a 200-day moving average of $145.40. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Monday, June 30th. Regal Rexnord's payout ratio is currently 47.46%.

Analyst Ratings Changes

RRX has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target 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. Barclays reduced their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Citigroup dropped their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. 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 note on Tuesday, April 8th. Finally, Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

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.