Regal Rexnord Co. (NYSE:RRX) Shares Purchased by CenterBook Partners LP

CenterBook Partners LP grew its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 114.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,023 shares of the company's stock after acquiring an additional 13,344 shares during the period. CenterBook Partners LP's holdings in Regal Rexnord were worth $3,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC increased its stake in shares of Regal Rexnord by 7.3% during the third quarter. HighTower Advisors LLC now owns 2,451 shares of the company's stock worth $403,000 after purchasing an additional 167 shares during the period. Quantinno Capital Management LP boosted its position in shares of Regal Rexnord by 53.2% in the third quarter. Quantinno Capital Management LP now owns 5,216 shares of the company's stock valued at $865,000 after acquiring an additional 1,811 shares during the period. Stifel Financial Corp grew its stake in shares of Regal Rexnord by 8.0% in the third quarter. Stifel Financial Corp now owns 60,750 shares of the company's stock valued at $10,077,000 after acquiring an additional 4,516 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in Regal Rexnord by 13.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,295 shares of the company's stock worth $383,000 after purchasing an additional 265 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock valued at $71,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

RRX has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup decreased their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays cut their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Oppenheimer cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Price Performance

Shares of NYSE RRX traded down $1.16 during midday trading on Tuesday, reaching $99.31. The stock had a trading volume of 175,117 shares, compared to its average volume of 525,929. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a 50-day moving average of $121.34 and a 200-day moving average of $150.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced 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 anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is presently 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.