ArrowMark Colorado Holdings LLC Raises Position in Regal Rexnord Co. (NYSE:RRX)

ArrowMark Colorado Holdings LLC boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,241 shares of the company's stock after acquiring an additional 12,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.10% of Regal Rexnord worth $9,811,000 at the end of the most recent reporting period.

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

Regal Rexnord Stock Performance

Regal Rexnord stock traded up $2.34 during trading hours on Friday, hitting $134.53. The company had a trading volume of 335,767 shares, compared to its average volume of 552,604. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a 50-day moving average of $111.60 and a 200 day moving average of $142.78. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The firm has a market cap of $8.92 billion, a PE ratio of 45.60, a PEG ratio of 1.37 and a beta of 1.11.

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

Regal Rexnord Dividend Announcement

The firm 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 $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. Regal Rexnord's payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RRX. Citigroup boosted their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a report on Thursday. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Oppenheimer lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, 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 research note on Tuesday, April 8th. Two 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, Regal Rexnord has an average rating of "Moderate Buy" and an average price target of $170.63.

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.