Castleark Management LLC Invests $6.45 Million in Regal Rexnord Co. (NYSE:RRX)

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

Other institutional investors also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after buying an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the fourth quarter valued at $30,000. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the 4th quarter worth about $33,000. Tobam purchased a new position in Regal Rexnord in the 4th quarter worth about $45,000. Finally, Jones Financial Companies Lllp lifted its stake in Regal Rexnord by 90.5% during the 4th 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. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RRX. KeyCorp lowered their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Oppenheimer decreased 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 report on Friday, February 7th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Citigroup upped their price objective on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $171.25.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the completion of the transaction, the chief executive officer now owns 175,954 shares in the company, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Price Performance

Shares of NYSE RRX traded down $0.42 during mid-day trading on Friday, hitting $134.58. 531,130 shares of the company's stock traded hands, compared to its average volume of 574,410. The company has a market capitalization of $8.93 billion, a P/E ratio of 45.62, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. 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 company's 50-day moving average is $116.02 and its two-hundred day moving average is $140.56.

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

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 39.89%.

Regal Rexnord Company 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.