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

Raymond James Financial Inc. acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 143,908 shares of the company’s stock, valued at approximately $22,325,000. Raymond James Financial Inc. owned approximately 0.22% of Regal Rexnord as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RRX. Tobam acquired a new stake in Regal Rexnord during the 4th quarter valued at approximately $45,000. Jones Financial Companies Lllp grew its stake in Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. Smartleaf Asset Management LLC grew its stake 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 purchasing an additional 105 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in Regal Rexnord by 335.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company’s stock valued at $97,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Up 1.3 %

Shares of NYSE RRX opened at $116.44 on Friday. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $142.83 and its 200 day simple moving average is $158.08.

Regal Rexnord (NYSE:RRX) last announced its earnings results 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 net margin of 3.25% and a return on equity of 9.57%. Equities research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup decreased their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Barclays decreased their target price on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.75.

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.