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 acquired a new position in Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,807 shares of the company’s stock, valued at approximately $901,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RRX. Point72 Asset Management L.P. acquired a new position in shares of Regal Rexnord in the third quarter worth approximately $83,460,000. Westfield Capital Management Co. LP raised its holdings in Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after purchasing an additional 399,649 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after purchasing an additional 363,728 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after purchasing an additional 232,509 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Regal Rexnord during the fourth quarter worth $22,325,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on RRX shares. Oppenheimer cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Citigroup cut their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Barclays lowered their price objective on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $197.75.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $122.47 on Friday. Regal Rexnord Co. has a twelve month low of $117.18 and a twelve month high of $185.28. The stock’s 50 day moving average is $146.62 and its 200-day moving average is $159.71. 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 firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. Sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.14%. Regal Rexnord’s dividend payout ratio is presently 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.