Marshall Wace LLP Raises Stock Holdings in Regal Rexnord Corporation $RRX

Marshall Wace LLP increased its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 41.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,863 shares of the company’s stock after acquiring an additional 46,376 shares during the quarter. Marshall Wace LLP owned approximately 0.24% of Regal Rexnord worth $22,884,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company’s stock worth $332,000 after buying an additional 102 shares during the last quarter. US Bancorp DE raised its position in Regal Rexnord by 12.5% in the first quarter. US Bancorp DE now owns 1,828 shares of the company’s stock worth $208,000 after acquiring an additional 203 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Regal Rexnord by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 442,186 shares of the company’s stock valued at $50,343,000 after acquiring an additional 10,034 shares during the last quarter. Headlands Technologies LLC purchased a new position in Regal Rexnord in the first quarter valued at about $81,000. Finally, Invesco Ltd. grew its position in shares of Regal Rexnord by 76.3% during the 1st quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock valued at $106,203,000 after acquiring an additional 403,845 shares during the period. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

RRX has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. The Goldman Sachs Group decreased their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Robert W. Baird set a $212.00 target price on Regal Rexnord in a research note on Friday, October 31st. Zacks Research downgraded Regal Rexnord from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Finally, Barclays restated an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a research note on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.63.

Regal Rexnord Stock Performance

NYSE:RRX opened at $145.98 on Tuesday. The business’s fifty day moving average is $141.46 and its 200 day moving average is $143.98. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 1.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $173.46.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. The company had revenue of $1.85 billion during the quarter. Research analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is currently 36.18%.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by corporate 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.