Bleakley Financial Group LLC Makes New $219,000 Investment in Regal Rexnord Co. (NYSE:RRX)

Bleakley Financial Group LLC purchased a new stake in shares of Regal Rexnord Co. (NYSE:RRX) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,320 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hengehold Capital Management LLC boosted its position in Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after acquiring an additional 65 shares during the period. Vontobel Holding Ltd. grew its position in Regal Rexnord by 17.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 305,562 shares of the company’s stock valued at $50,687,000 after buying an additional 44,683 shares in the last quarter. Creative Planning increased its stake in Regal Rexnord by 11.6% during the 3rd quarter. Creative Planning now owns 3,131 shares of the company’s stock valued at $519,000 after buying an additional 326 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $271,000. Finally, UMB Bank n.a. boosted its holdings in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on RRX shares. Citigroup started coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Barclays boosted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.63.

Regal Rexnord Price Performance

NYSE RRX opened at $167.95 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The company has a market cap of $11.17 billion, a PE ratio of -349.90, a PEG ratio of 1.87 and a beta of 1.04. The stock’s 50-day moving average price is $163.96 and its two-hundred day moving average price is $155.97.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business earned $2.56 earnings per share. The firm’s revenue was down 12.5% compared to the same quarter last year. On average, analysts predict that Regal Rexnord Co. will post 9.48 EPS for the current year.

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.