Merit Financial Group LLC Makes New $230,000 Investment in Regal Rexnord Co. (NYSE:RRX)

Merit Financial Group LLC acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,553 shares of the company’s stock, valued at approximately $230,000.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in shares of Regal Rexnord by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company’s stock worth $468,000 after acquiring an additional 118 shares during the last quarter. Raymond James & Associates boosted its position in Regal Rexnord by 4.0% during the third quarter. Raymond James & Associates now owns 76,861 shares of the company’s stock valued at $10,982,000 after buying an additional 2,978 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Regal Rexnord by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,083 shares of the company’s stock valued at $1,869,000 after buying an additional 1,957 shares during the last quarter. Advisor Partners II LLC purchased a new position in shares of Regal Rexnord in the third quarter worth about $214,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Regal Rexnord in the 3rd quarter valued at about $215,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RRX shares. Robert W. Baird increased their price objective on Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays decreased their price objective on shares of Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday. KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer lifted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.60.

Regal Rexnord Trading Up 2.3 %

NYSE RRX opened at $161.00 on Friday. The stock’s 50 day moving average is $169.23 and its 200 day moving average is $146.78. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $10.71 billion, a PE ratio of -185.06, a P/E/G ratio of 1.64 and a beta of 1.16. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm earned $2.22 EPS. The company’s revenue was up 26.4% compared to the same quarter last year. Research analysts forecast that Regal Rexnord Co. will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s payout ratio is -160.92%.

Insider Buying and Selling

In other news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.