Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,222 shares of the company’s stock after purchasing an additional 1,274 shares during the quarter. Raymond James & Associates owned 0.17% of Regal Rexnord worth $19,279,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RRX. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord during the second quarter worth about $46,000. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Regal Rexnord in the 1st quarter valued at approximately $68,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at $52,000. Finally, GAMMA Investing LLC lifted its position in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $166.52 on Friday. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of -8,326.00, a PEG ratio of 1.79 and a beta of 1.04. The firm’s fifty day simple moving average is $164.34 and its 200-day simple moving average is $156.01. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The business’s revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts forecast that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Wall Street Analyst Weigh In

RRX has been the topic of several recent analyst reports. Barclays increased their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. KeyCorp dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $193.63.

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.