Daiwa Securities Group Inc. bought a new position in Regal Rexnord Co. (NYSE:RRX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,300 shares of the company's stock, valued at approximately $822,000.
Other large investors have also recently modified their holdings of the company. Tobam purchased a new position in shares of Regal Rexnord in the fourth quarter worth about $45,000. Jones Financial Companies Lllp grew its stake in Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after acquiring an additional 153 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after acquiring an additional 105 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock valued at $71,000 after acquiring 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 fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock valued at $97,000 after acquiring an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.
Analyst Upgrades and Downgrades
RRX has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Finally, Oppenheimer decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $195.75.
View Our Latest Stock Report on RRX
Regal Rexnord Trading Up 4.0 %
Shares of Regal Rexnord stock traded up $4.73 during trading on Wednesday, reaching $123.50. The company's stock had a trading volume of 838,915 shares, compared to its average volume of 477,585. Regal Rexnord Co. has a 52-week low of $113.73 and a 52-week high of $185.28. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 1.37 and a beta of 1.11. The firm's 50-day moving average is $141.27 and its two-hundred day moving average is $157.37. 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 (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.13%. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.
About Regal Rexnord
(
Free Report)
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.
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