Boothbay Fund Management LLC Purchases 67,789 Shares of Regal Rexnord Co. (NYSE:RRX)

Boothbay Fund Management LLC increased its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 248.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 95,079 shares of the company's stock after buying an additional 67,789 shares during the quarter. Boothbay Fund Management LLC owned 0.14% of Regal Rexnord worth $14,750,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RRX. JPMorgan Chase & Co. boosted its stake in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after acquiring an additional 28,278 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Regal Rexnord in the 4th quarter worth approximately $811,000. Franklin Resources Inc. grew its holdings in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares during the period. Atria Investments Inc grew its holdings in Regal Rexnord by 48.9% during the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after purchasing an additional 759 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Regal Rexnord by 16.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock worth $2,613,000 after buying an additional 2,414 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX traded down $1.05 on Monday, hitting $105.97. The company's stock had a trading volume of 647,606 shares, compared to its average volume of 536,357. The company has a market capitalization of $7.02 billion, a PE ratio of 35.92, a PEG ratio of 1.37 and a beta of 1.09. 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 company has a 50-day simple moving average of $114.09 and a 200 day simple moving average of $145.66. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results 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 net margin of 3.25% and a return on equity of 9.57%. Sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.32%. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RRX shares. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.