Marshall Wace LLP Makes New $4.80 Million Investment in Regal Rexnord Co. (NYSE:RRX)

Marshall Wace LLP acquired a new position in shares of Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,947 shares of the company’s stock, valued at approximately $4,801,000.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after purchasing an additional 363,728 shares during the last quarter. Norges Bank bought a new stake in shares of Regal Rexnord during the 4th quarter worth approximately $235,188,000. Franklin Resources Inc. boosted 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 valued at $204,254,000 after buying an additional 77,215 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company’s stock valued at $137,150,000 after buying an additional 232,509 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock worth $106,106,000 after acquiring an additional 247,673 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RRX. Citigroup lowered their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. KeyCorp dropped their price objective on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Barclays reduced their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Oppenheimer dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $170.75.

Regal Rexnord Price Performance

RRX stock opened at $106.29 on Friday. The company’s 50-day moving average price is $115.28 and its two-hundred day moving average price is $146.79. The firm has a market cap of $7.04 billion, a P/E ratio of 36.03, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. On average, analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

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.