FDx Advisors Inc. Has $254,000 Stake in Regal Rexnord Co. (NYSE:RRX)

Posted by Defense World Staff on May 25th, 2023

FDx Advisors Inc. lowered its position in Regal Rexnord Co. (NYSE:RRX – Get Rating) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,114 shares of the company’s stock after selling 113 shares during the period. FDx Advisors Inc.’s holdings in Regal Rexnord were worth $254,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RRX. Artemis Wealth Advisors LLC bought a new stake in Regal Rexnord during the 4th quarter valued at $35,000. My Personal CFO LLC bought a new stake in shares of Regal Rexnord in the 4th quarter worth $36,000. Point72 Hong Kong Ltd bought a new stake in shares of Regal Rexnord in the 1st quarter worth $42,000. Lazard Asset Management LLC bought a new position in Regal Rexnord during the third quarter valued at about $60,000. Finally, FourThought Financial LLC grew its position in Regal Rexnord by 53.8% during the third quarter. FourThought Financial LLC now owns 466 shares of the company’s stock valued at $65,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 99.98% of the company’s stock.

Regal Rexnord Price Performance

NYSE RRX opened at $127.07 on Thursday. The stock has a 50-day moving average of $132.00 and a 200 day moving average of $134.72. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.22 and a beta of 1.06. Regal Rexnord Co. has a one year low of $108.28 and a one year high of $162.89. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.69 and a current ratio of 2.92.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 29th. Regal Rexnord’s dividend payout ratio is 26.12%.

Wall Street Analyst Weigh In

RRX has been the topic of several recent research reports. StockNews.com assumed coverage on shares of Regal Rexnord in a report on Thursday, May 18th. They set a “hold” rating on the stock. Oppenheimer increased their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Robert W. Baird decreased their price objective on shares of Regal Rexnord from $188.00 to $184.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 28th. Barclays upped their price objective on shares of Regal Rexnord from $148.00 to $185.00 in a research report on Sunday, February 5th. Finally, KeyCorp upped their price objective on shares of Regal Rexnord from $172.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average target price of $186.00.

Regal Rexnord Company Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.