Murphy & Mullick Capital Management Corp Invests $359,000 in Regal Rexnord Co. (NYSE:RRX)

Murphy & Mullick Capital Management Corp bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,316 shares of the company’s stock, valued at approximately $359,000.

Several other hedge funds also recently modified their holdings of RRX. JPMorgan Chase & Co. boosted its stake in shares of Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after buying an additional 9,338 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $811,000. PNC Financial Services Group Inc. increased its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,783 shares during the period. Finally, Franklin Resources Inc. raised its stake in Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after purchasing an additional 77,215 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer decreased their target price 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. Barclays lowered their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group started 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.75.

Regal Rexnord Stock Up 0.3 %

Shares of NYSE:RRX opened at $124.79 on Wednesday. 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 cap of $8.27 billion, a P/E ratio of 42.30, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12 month low of $113.73 and a 12 month high of $185.28. The company’s 50-day moving average price is $138.27 and its two-hundred day moving average price is $156.25.

Regal Rexnord (NYSE:RRX) last posted 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%. As a group, research analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) 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.