Bay Colony Advisory Group Inc d b a Bay Colony Advisors Purchases New Shares in Regal Rexnord Co. (NYSE:RRX)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Regal Rexnord Co. (NYSE:RRX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,807 shares of the company's stock, valued at approximately $901,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after buying an additional 363,728 shares in the last quarter. State Street Corp raised its holdings in shares of Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company's stock valued at $327,944,000 after buying an additional 24,860 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock valued at $213,971,000 after buying an additional 83,823 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after buying an additional 77,215 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Regal Rexnord by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company's stock valued at $188,729,000 after buying an additional 12,301 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

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Regal Rexnord Trading Down 0.9 %

Shares of RRX stock traded down $1.12 during trading hours on Friday, reaching $122.47. The company's stock had a trading volume of 487,551 shares, compared to its average volume of 616,472. The stock has a market capitalization of $8.12 billion, a P/E ratio of 41.52, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a one year low of $117.18 and a one year high of $185.28. The firm's fifty day simple moving average is $146.62 and its 200 day simple moving average is $159.71. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.14%. Regal Rexnord's dividend payout ratio is presently 47.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RRX shares. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Oppenheimer reduced their price target 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. StockNews.com lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target on the stock. Finally, Citigroup reduced their price target on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. 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.com, Regal Rexnord has an average rating of "Moderate Buy" and a consensus price target of $197.75.

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.