Marshall Wace LLP Takes $4.80 Million Position in Regal Rexnord Co. (NYSE:RRX)

Marshall Wace LLP bought a new position in Regal Rexnord Co. (NYSE:RRX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,947 shares of the company's stock, valued at approximately $4,801,000.

A number of other large investors also recently bought and sold shares of RRX. Tidal Investments LLC grew its position in Regal Rexnord by 4.8% during the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock valued at $1,262,000 after purchasing an additional 347 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. American Trust lifted its holdings in shares of Regal Rexnord by 11.5% during the third quarter. American Trust now owns 1,797 shares of the company's stock valued at $298,000 after purchasing an additional 185 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after buying an additional 28,278 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Regal Rexnord by 28.3% in the 4th quarter. GAMMA Investing LLC now owns 1,079 shares of the company's stock worth $167,000 after buying an additional 238 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Shares of RRX stock traded up $1.19 on Tuesday, hitting $107.22. 170,036 shares of the stock traded hands, compared to its average volume of 534,949. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $114.09 and a two-hundred day simple moving average of $145.66. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates 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, equities research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.31%. Regal Rexnord's dividend payout ratio (DPR) is 47.46%.

Analysts Set New Price Targets

A number of analysts recently commented on RRX shares. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Oppenheimer reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Barclays dropped their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Citigroup reduced their target price on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

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.