Stifel Financial Corp Increases Holdings 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% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,995 shares of the company's stock after buying an additional 5,245 shares during the period. Stifel Financial Corp owned about 0.10% of Regal Rexnord worth $10,238,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ grew its position 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 valued at $25,000 after acquiring an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord during the 4th quarter valued at $33,000. Tobam bought a new stake in shares of Regal Rexnord during the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp grew its position in shares of 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 acquiring an additional 153 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Up 0.7 %

Shares of RRX opened at $107.09 on Monday. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The business's 50 day simple moving average is $114.69 and its 200-day simple moving average is $146.12. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

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 (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, equities analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays cut their price objective 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. KeyCorp cut their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Oppenheimer cut 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. Finally, Citigroup lowered their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Company 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.

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