2,316 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,316 shares of the company’s stock, valued at approximately $359,000.

Several other hedge funds have also added to or reduced their stakes in the business. iA Global Asset Management Inc. lifted its stake in Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after acquiring an additional 68 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after purchasing an additional 77 shares during the last quarter. Moors & Cabot Inc. grew its position in Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after purchasing an additional 85 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Regal Rexnord by 30.3% in 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. Finally, CIBC Asset Management Inc lifted its position in Regal Rexnord by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock worth $320,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RRX. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Barclays lowered their price target on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.75.

Regal Rexnord Stock Performance

NYSE RRX opened at $124.79 on Wednesday. Regal Rexnord Co. has a 52-week low of $113.73 and a 52-week high of $185.28. The stock has a market cap of $8.27 billion, a PE ratio of 42.30, a P/E/G ratio of 1.37 and a beta of 1.11. The firm has a 50-day moving average of $138.27 and a 200-day moving average of $156.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data 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%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

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.