Stifel Financial Corp Raises Position in Regal Rexnord Co. (NYSE:RRX)

Stifel Financial Corp lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,750 shares of the company's stock after buying an additional 4,516 shares during the period. Stifel Financial Corp owned approximately 0.09% of Regal Rexnord worth $10,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in Regal Rexnord by 53.2% during the 3rd quarter. Quantinno Capital Management LP now owns 5,216 shares of the company's stock valued at $865,000 after acquiring an additional 1,811 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Regal Rexnord in the third quarter valued at approximately $83,460,000. Maven Securities LTD purchased a new stake in shares of Regal Rexnord during the third quarter worth about $688,000. HighTower Advisors LLC increased its position in shares of Regal Rexnord by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,451 shares of the company's stock worth $403,000 after purchasing an additional 167 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in Regal Rexnord by 25.0% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 51,241 shares of the company's stock valued at $8,500,000 after purchasing an additional 10,241 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

Regal Rexnord Stock Performance

Shares of RRX stock traded up $1.43 during mid-day trading on Thursday, hitting $171.46. 518,763 shares of the stock were exchanged, compared to its average volume of 453,262. The stock's fifty day simple moving average is $171.77 and its two-hundred day simple moving average is $158.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord Co. has a 12-month low of $128.89 and a 12-month high of $185.28. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 54.09, a P/E/G ratio of 1.84 and a beta of 1.03.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business posted $2.10 EPS. The firm's quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts forecast that Regal Rexnord Co. will post 9.25 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio is currently 44.16%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays raised their target price on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday. They set a "buy" rating and a $215.00 target price for the company. Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They issued a "buy" rating and a $200.00 price objective on the stock. Loop Capital reaffirmed a "buy" rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.13.

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.