Jump Financial LLC Purchases New Shares in Regal Rexnord Co. (NYSE:RRX)

Jump Financial LLC purchased a new position in shares of Regal Rexnord Co. (NYSE:RRXFree Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,527 shares of the company’s stock, valued at approximately $361,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC lifted its stake in Regal Rexnord by 139.1% in the first quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock valued at $29,000 after buying an additional 121 shares during the last quarter. Janiczek Wealth Management LLC lifted its stake in Regal Rexnord by 45.4% in the third quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock valued at $40,000 after buying an additional 88 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Regal Rexnord during the first quarter worth approximately $42,000. ICA Group Wealth Management LLC purchased a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $57,000. Finally, Spire Wealth Management raised its stake in shares of Regal Rexnord by 46.0% during the second quarter. Spire Wealth Management now owns 406 shares of the company’s stock worth $62,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Regal Rexnord Trading Up 1.5 %

NYSE:RRX opened at $154.32 on Tuesday. The stock has a fifty day moving average price of $139.69 and a two-hundred day moving average price of $138.55. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of -177.38, a PEG ratio of 1.51 and a beta of 1.09. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $166.00.

Regal Rexnord (NYSE:RRXGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. Regal Rexnord’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord Co. will post 10.1 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, March 27th. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TheStreet cut Regal Rexnord from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. KeyCorp cut their price target on Regal Rexnord from $184.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Finally, Wolfe Research upgraded Regal Rexnord from a “peer perform” rating to an “outperform” rating and set a $151.00 price objective for the company in a research report on Monday, December 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $177.50.

Get Our Latest Analysis on Regal Rexnord

Regal Rexnord Profile

(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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

Further Reading

Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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