Bernard Wealth Management Corp. Makes New Investment in Regal Rexnord Co. (NYSE:RRX)

Bernard Wealth Management Corp. bought a new stake in Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 200 shares of the company’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RRX. Skandinaviska Enskilda Banken AB publ boosted its stake in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at about $33,000. Tobam bought a new position in shares of Regal Rexnord during the fourth quarter worth about $45,000. Jones Financial Companies Lllp grew its stake in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after purchasing an additional 153 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after buying an additional 105 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RRX. Barclays decreased their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Oppenheimer lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Stock Down 2.1 %

RRX stock opened at $93.77 on Wednesday. The stock has a market cap of $6.21 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The firm’s 50-day simple moving average is $126.80 and its 200 day simple moving average is $152.49. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts predict 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. Regal Rexnord’s dividend payout ratio (DPR) is presently 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.