61,000 Shares in Regal Rexnord Co. (NYSE:RRX) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new position 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 institutional investor acquired 61,000 shares of the company's stock, valued at approximately $9,463,000. Polar Asset Management Partners Inc. owned about 0.09% of Regal Rexnord as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich increased its position in 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 buying an additional 77 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after purchasing an additional 85 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock worth $370,000 after buying an additional 87 shares during the period. Advisory Research Inc. raised its position in shares of Regal Rexnord by 1.5% during the fourth quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock worth $1,041,000 after purchasing an additional 98 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Regal Rexnord by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock valued at $320,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction on 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 directly owns 175,954 shares in the company, valued at $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Trading Down 2.6%

Shares of RRX stock traded down $3.59 during trading hours on Friday, hitting $133.76. 233,947 shares of the company were exchanged, compared to its average volume of 573,746. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a market cap of $8.87 billion, a PE ratio of 45.27, a PEG ratio of 1.37 and a beta of 1.11. 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 firm has a fifty day moving average of $117.14 and a 200 day moving average of $139.44.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company's revenue was down 8.4% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. Regal Rexnord's dividend payout ratio is currently 39.89%.

Wall Street Analyst Weigh In

RRX has been the subject of several recent research reports. Oppenheimer lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. 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. 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. Barclays boosted their price target on Regal Rexnord from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, 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 note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.