Arrowstreet Capital Limited Partnership Takes $747,000 Position in Regal Rexnord Co. (NYSE:RRX)

Arrowstreet Capital Limited Partnership acquired a new stake in Regal Rexnord Co. (NYSE:RRX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,818 shares of the company's stock, valued at approximately $747,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. increased its position in Regal Rexnord by 6.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,485 shares of the company's stock worth $385,000 after buying an additional 150 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Regal Rexnord by 13.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company's stock worth $1,446,000 after acquiring an additional 1,104 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Regal Rexnord in the 4th quarter valued at $6,427,000. Norges Bank acquired a new stake in Regal Rexnord during the 4th quarter valued at $235,188,000. Finally, JPMorgan Chase & Co. boosted its position in Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after purchasing an additional 247,673 shares during the period. Institutional investors own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRX shares. KeyCorp reduced their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price objective on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday. Oppenheimer reduced their price target 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. Finally, The Goldman Sachs Group dropped their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Stock Performance

Regal Rexnord stock traded up $0.91 during midday trading on Thursday, reaching $97.55. The stock had a trading volume of 132,516 shares, compared to its average volume of 528,219. The firm has a market capitalization of $6.46 billion, a PE ratio of 33.02, a P/E/G ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28. 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's 50-day moving average price is $119.62 and its 200 day moving average price is $149.49.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.44%. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.

About Regal Rexnord

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.