41,570 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Castleark Management LLC

Castleark Management LLC bought a new stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 41,570 shares of the company's stock, valued at approximately $6,449,000. Castleark Management LLC owned 0.06% of Regal Rexnord as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after purchasing an additional 247,673 shares during the last quarter. Atria Investments Inc grew its holdings in Regal Rexnord by 48.9% during the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock worth $358,000 after acquiring an additional 759 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Regal Rexnord by 16.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock worth $2,613,000 after purchasing an additional 2,414 shares during the period. Norges Bank acquired a new stake in Regal Rexnord during the fourth quarter valued at $235,188,000. Finally, Hantz Financial Services Inc. increased its holdings in Regal Rexnord by 4.2% in the fourth quarter. Hantz Financial Services Inc. now owns 104,273 shares of the company's stock valued at $16,176,000 after buying an additional 4,157 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

RRX stock traded down $0.42 during midday trading on Monday, reaching $134.58. The stock had a trading volume of 531,130 shares, compared to its average volume of 574,199. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The company's fifty day simple moving average is $116.02 and its 200 day simple moving average is $140.01. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 45.62, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping 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%. Regal Rexnord's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 earnings per share. As a group, sell-side analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. Regal Rexnord's dividend payout ratio is presently 39.89%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RRX shares. Robert W. Baird increased their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Citigroup upped their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $171.25.

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.