Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. raised its holdings in Regal Rexnord Co. (NYSE:RRX - Free Report) by 425.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,050 shares of the company's stock after buying an additional 323,904 shares during the period. Alyeska Investment Group L.P. owned approximately 0.60% of Regal Rexnord worth $62,060,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock worth $190,000 after purchasing an additional 77 shares in the last quarter. Moors & Cabot Inc. increased its position in Regal Rexnord by 4.1% during the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock worth $332,000 after buying an additional 85 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in Regal Rexnord by 3.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after buying an additional 87 shares during the last quarter. Advisory Research Inc. boosted its holdings in shares of Regal Rexnord by 1.5% in the fourth quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after acquiring an additional 98 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Regal Rexnord by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of NYSE RRX traded up $14.95 during midday trading on Tuesday, hitting $125.23. The company had a trading volume of 1,772,561 shares, compared to its average volume of 549,422. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $111.51 and a two-hundred day simple moving average of $143.28. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord's quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $2.00 EPS. Equities research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Analysts Set New Price Targets

RRX has been the topic of several research reports. Barclays lowered their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Citigroup reduced their price objective on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. KeyCorp decreased their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.