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

Marshall Wace LLP bought a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,600 shares of the company's stock, valued at approximately $622,000.

Several other institutional investors have also modified their holdings of RRX. Clearfield Capital Management LP acquired a new stake in Regal Rexnord in the fourth quarter valued at $4,159,000. Bain Capital Public Equity LP lifted its stake in Regal Rexnord by 161.9% during the fourth quarter. Bain Capital Public Equity LP now owns 30,058 shares of the company's stock worth $4,449,000 after purchasing an additional 18,579 shares during the last quarter. Bain Capital Public Equity Management II LLC boosted its holdings in Regal Rexnord by 176.2% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 212,748 shares of the company's stock worth $31,491,000 after purchasing an additional 135,732 shares during the period. Forest Avenue Capital Management LP increased its stake in Regal Rexnord by 141.7% during the fourth quarter. Forest Avenue Capital Management LP now owns 136,298 shares of the company's stock valued at $20,175,000 after purchasing an additional 79,900 shares during the last quarter. Finally, Prelude Capital Management LLC raised its holdings in shares of Regal Rexnord by 0.4% during the fourth quarter. Prelude Capital Management LLC now owns 55,881 shares of the company's stock worth $8,272,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Tuesday. Loop Capital reaffirmed a "buy" rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Barclays raised their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Robert W. Baird upped their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Finally, KeyCorp lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and a consensus price target of $192.71.

Regal Rexnord Stock Performance

NYSE RRX traded down $2.81 during trading on Thursday, hitting $163.96. The company's stock had a trading volume of 319,453 shares, compared to its average volume of 450,703. The firm has a 50 day moving average price of $159.95 and a 200 day moving average price of $156.22. The firm has a market cap of $10.91 billion, a P/E ratio of -347.73, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm earned $2.56 EPS. The business's revenue was down 12.5% on a year-over-year basis. Equities research analysts forecast that Regal Rexnord Co. will post 9.48 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 annualized dividend and a yield of 0.85%. Regal Rexnord's dividend payout ratio (DPR) is -291.67%.

Regal Rexnord Company 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.