45,219 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Crestline Management LP

Crestline Management LP acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 45,219 shares of the company's stock, valued at approximately $7,015,000. Crestline Management LP owned about 0.07% of Regal Rexnord at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RRX. Skandinaviska Enskilda Banken AB publ increased its stake in Regal Rexnord by 472.4% during the fourth 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. purchased a new position in shares of Regal Rexnord in the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the 4th quarter valued at $33,000. Tobam purchased a new stake in Regal Rexnord during the 4th quarter worth $45,000. Finally, Jones Financial Companies Lllp increased its holdings in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RRX shares. The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Citigroup increased their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday. Barclays reduced their target price 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. StockNews.com lowered shares of Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $170.63.

Regal Rexnord Stock Up 1.6 %

Shares of Regal Rexnord stock traded up $2.05 during trading on Friday, reaching $134.24. The company had a trading volume of 981,133 shares, compared to its average volume of 557,182. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord Co. has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The firm's fifty day moving average is $111.89 and its 200-day moving average is $142.36. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 EPS. On average, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

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 issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's payout ratio is currently 39.89%.

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.