Westfield Capital Management Co. LP Purchases 399,649 Shares of Regal Rexnord Co. (NYSE:RRX)

Westfield Capital Management Co. LP lifted its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 68.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 979,521 shares of the company's stock after acquiring an additional 399,649 shares during the quarter. Westfield Capital Management Co. LP owned approximately 1.48% of Regal Rexnord worth $162,483,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. PEAK6 Investments LLC lifted its position in Regal Rexnord by 52.2% during the 1st quarter. PEAK6 Investments LLC now owns 28,696 shares of the company's stock valued at $5,168,000 after purchasing an additional 9,848 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Regal Rexnord in the second quarter valued at approximately $1,173,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Regal Rexnord by 31.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company's stock valued at $2,662,000 after acquiring an additional 4,701 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Regal Rexnord by 7.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company's stock valued at $8,397,000 after acquiring an additional 4,076 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Regal Rexnord by 879.3% in the 2nd quarter. Intech Investment Management LLC now owns 13,896 shares of the company's stock valued at $1,879,000 after purchasing an additional 12,477 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on RRX shares. Loop Capital reissued a "buy" rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Barclays increased 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. Finally, Robert W. Baird cut their price objective on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Regal Rexnord Stock Performance

RRX stock traded up $3.63 during trading hours on Friday, hitting $177.37. 551,471 shares of the stock were exchanged, compared to its average volume of 505,198. Regal Rexnord Co. has a 12 month low of $113.79 and a 12 month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $11.75 billion, a P/E ratio of 55.95, a P/E/G ratio of 1.88 and a beta of 1.04. The company has a 50-day simple moving average of $170.10 and a two-hundred day simple moving average of $157.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm's quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share. On average, analysts forecast that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's payout ratio is presently 44.16%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares of the company's stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by insiders.

Regal Rexnord 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.