Adage Capital Partners GP L.L.C. Takes $1.55 Million Position in Regal Rexnord Co. (NYSE:RRX)

Adage Capital Partners GP L.L.C. acquired a new stake in Regal Rexnord Co. (NYSE:RRX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the company's stock, valued at approximately $1,551,000.

A number of other institutional investors have also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ increased its stake in Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord during the fourth quarter worth about $33,000. Tobam bought a new stake in shares of Regal Rexnord in the fourth quarter worth about $45,000. Finally, Jones Financial Companies Lllp raised its position in shares of Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock worth $50,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Price Performance

NYSE:RRX traded up $4.52 during mid-day trading on Friday, hitting $111.84. 681,131 shares of the stock traded hands, compared to its average volume of 541,456. The company has a market cap of $7.41 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28. The business's 50-day moving average price is $111.99 and its 200 day moving average price is $144.21. 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 (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Analyst Ratings Changes

RRX has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Oppenheimer reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group dropped their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. KeyCorp reduced their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Barclays dropped 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $170.75.

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.