1,407 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC bought a new stake in shares of Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,407 shares of the company’s stock, valued at approximately $218,000.

Several other institutional investors have also added to or reduced their stakes in RRX. Tobam bought a new stake in shares of Regal Rexnord during the 4th quarter valued at $45,000. Nomura Asset Management Co. Ltd. raised its holdings in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the period. 1620 Investment Advisors Inc. lifted its position in Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares in the last quarter. GAMMA Investing LLC grew its holdings in Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock valued at $167,000 after purchasing an additional 238 shares during the period. Finally, Weatherly Asset Management L. P. purchased a new stake in Regal Rexnord in the third quarter worth about $180,000. 99.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RRX shares. Oppenheimer lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Barclays reduced their price objective on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird cut their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $197.75.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $134.25 on Thursday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 45.51, a P/E/G ratio of 1.37 and a beta of 1.03. The firm has a fifty day moving average price of $151.63 and a 200 day moving average price of $161.46. Regal Rexnord Co. has a fifty-two week low of $128.95 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data 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%. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

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.