ArrowMark Colorado Holdings LLC Raises Stake in Regal Rexnord Co. (NYSE:RRX)

ArrowMark Colorado Holdings LLC increased its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 25.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,241 shares of the company's stock after acquiring an additional 10,241 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.08% of Regal Rexnord worth $8,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the second quarter worth about $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord during the 2nd quarter worth $52,000. UMB Bank n.a. grew its position 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 purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC grew its holdings in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company's stock valued at $87,000 after buying an additional 79 shares during the last quarter. Finally, CWM LLC raised its position in shares of Regal Rexnord by 25.4% in the second quarter. CWM LLC now owns 825 shares of the company's stock valued at $112,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Wall Street Analyst Weigh In

RRX has been the subject of a number of research reports. Citigroup initiated coverage on Regal Rexnord in a report on Monday, October 14th. They set a "buy" rating and a $200.00 target price for the company. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Barclays increased their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Robert W. Baird cut their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, Loop Capital reiterated a "buy" rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

Regal Rexnord Stock Down 0.2 %

Regal Rexnord stock traded down $0.31 during midday trading on Tuesday, reaching $174.21. The stock had a trading volume of 130,231 shares, compared to its average volume of 453,767. The stock has a market capitalization of $11.54 billion, a P/E ratio of 55.09, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03. The firm's fifty day simple moving average is $170.97 and its 200-day simple moving average is $157.68. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord Co. has a 1-year low of $122.49 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The firm's revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts expect that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.80%. Regal Rexnord's payout ratio is 44.16%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by insiders.

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.