FourThought Financial LLC Purchases 163 Shares of Regal Rexnord Co. (NYSE:RRX)

FourThought Financial LLC increased its position in Regal Rexnord Co. (NYSE:RRX – Get Rating) by 53.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 466 shares of the company’s stock after acquiring an additional 163 shares during the quarter. FourThought Financial LLC’s holdings in Regal Rexnord were worth $65,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Symmetry Partners LLC boosted its position in shares of Regal Rexnord by 10.7% in the third quarter. Symmetry Partners LLC now owns 5,518 shares of the company’s stock valued at $775,000 after acquiring an additional 534 shares during the period. Toronto Dominion Bank boosted its position in shares of Regal Rexnord by 17.7% in the third quarter. Toronto Dominion Bank now owns 2,768 shares of the company’s stock valued at $386,000 after acquiring an additional 417 shares during the period. Sei Investments Co. boosted its position in shares of Regal Rexnord by 95.7% in the second quarter. Sei Investments Co. now owns 95,329 shares of the company’s stock valued at $10,812,000 after acquiring an additional 46,626 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Regal Rexnord by 8.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,515 shares of the company’s stock valued at $1,195,000 after acquiring an additional 659 shares during the period. Finally, FORA Capital LLC lifted its position in Regal Rexnord by 57.2% during the second quarter. FORA Capital LLC now owns 5,502 shares of the company’s stock valued at $625,000 after purchasing an additional 2,002 shares during the last quarter. 99.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RRX has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Regal Rexnord in a research report on Thursday. They set a “buy” rating for the company. KeyCorp lifted their target price on shares of Regal Rexnord from $172.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Wolfe Research lowered shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 1st. Barclays lifted their target price on shares of Regal Rexnord from $148.00 to $185.00 in a research report on Sunday, February 5th. Finally, Oppenheimer lifted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus target price of $186.80.

Regal Rexnord Trading Down 3.2 %

RRX stock opened at $137.19 on Friday. The company has a market capitalization of $9.09 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.33 and a beta of 1.08. Regal Rexnord Co. has a one year low of $108.28 and a one year high of $164.15. The company’s 50 day moving average price is $147.95 and its two-hundred day moving average price is $138.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.66 and a current ratio of 2.99.

Regal Rexnord (NYSE:RRX – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.30 by $0.34. Regal Rexnord had a net margin of 9.37% and a return on equity of 11.36%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts predict that Regal Rexnord Co. will post 10.52 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, March 30th. Regal Rexnord’s payout ratio is 19.18%.

Regal Rexnord Company Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.