FourThought Financial Partners LLC Makes New Investment in Regal Rexnord Co. (NYSE:RRX)

FourThought Financial Partners LLC bought a new stake in shares of Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,407 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tobam purchased a new position in Regal Rexnord during the 4th quarter valued at about $45,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Regal Rexnord by 28.3% in the 4th quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock worth $167,000 after purchasing an additional 238 shares in the last quarter. Finally, Weatherly Asset Management L. P. purchased a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $180,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $134.25 on Thursday. The firm’s 50-day moving average price is $151.63 and its 200-day moving average price is $161.46. Regal Rexnord Co. has a 52-week low of $128.95 and a 52-week high of $185.28. The company has a market cap of $8.89 billion, a PE ratio of 45.51, a PEG ratio of 1.37 and a beta of 1.03. 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 issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

RRX has been the subject of a number of recent research reports. Oppenheimer lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.75.

Regal Rexnord Company 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.