Jones Financial Companies Lllp Has $50,000 Stock Position in Regal Rexnord Co. (NYSE:RRX)

Jones Financial Companies Lllp increased its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 90.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 322 shares of the company’s stock after purchasing an additional 153 shares during the period. Jones Financial Companies Lllp’s holdings in Regal Rexnord were worth $50,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Regal Rexnord by 1.3% in the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after acquiring an additional 24,860 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Regal Rexnord by 6.9% in the third 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 acquiring an additional 83,823 shares during the period. Franklin Resources Inc. grew its stake in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after acquiring an additional 77,215 shares during the period. The Manufacturers Life Insurance Company grew its stake in Regal Rexnord by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after acquiring an additional 12,301 shares during the period. Finally, Geode Capital Management LLC grew its stake in Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after acquiring an additional 9,338 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented 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 research note on Thursday, December 12th. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Barclays dropped their target price on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Citigroup dropped their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $118.70 on Wednesday. The business’s fifty day simple moving average is $141.27 and its 200 day simple moving average is $157.37. The firm has a market capitalization of $7.87 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12 month low of $113.73 and a 12 month high of $185.28. 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) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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%. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.