Bay Colony Advisory Group Inc d b a Bay Colony Advisors Invests $901,000 in Regal Rexnord Co. (NYSE:RRX)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, Holdings Channel reports. The firm purchased 5,807 shares of the company’s stock, valued at approximately $901,000.

A number of other hedge funds have also bought and sold shares of RRX. JPMorgan Chase & Co. increased its position in shares of Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after purchasing an additional 28,278 shares during the last quarter. Geode Capital Management LLC grew its position in Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after buying an additional 9,338 shares during the period. First Hawaiian Bank purchased a new stake in Regal Rexnord during the fourth quarter worth about $811,000. PNC Financial Services Group Inc. raised its position in Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,783 shares during the period. Finally, Franklin Resources Inc. boosted 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 last quarter. 99.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RRX has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Barclays dropped their price target on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.75.

Regal Rexnord Stock Down 0.9 %

Shares of NYSE RRX opened at $122.47 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company has a market cap of $8.12 billion, a P/E ratio of 41.52, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52 week low of $117.18 and a 52 week high of $185.28. The business has a 50-day simple moving average of $146.62 and a two-hundred day simple moving average of $159.71.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.14%. Regal Rexnord’s payout ratio is currently 47.46%.

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.