Freestone Grove Partners LP Buys New Position in Regal Rexnord Co. (NYSE:RRX)

Freestone Grove Partners LP purchased a new stake in Regal Rexnord Co. (NYSE:RRX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,692 shares of the company's stock, valued at approximately $9,570,000. Freestone Grove Partners LP owned 0.09% of Regal Rexnord at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RRX. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Regal Rexnord by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after acquiring an additional 77 shares during the period. Moors & Cabot Inc. lifted its position in Regal Rexnord by 4.1% during the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock worth $332,000 after purchasing an additional 85 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Regal Rexnord by 3.8% during the fourth 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 in the last quarter. Advisory Research Inc. increased its holdings in Regal Rexnord by 1.5% in the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock valued at $1,041,000 after buying an additional 98 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Regal Rexnord by 5.2% in 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 in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RRX shares. Barclays decreased their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Citigroup lowered their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. KeyCorp reduced their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Oppenheimer reduced 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Regal Rexnord has an average rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Trading Down 1.3 %

Shares of RRX stock traded down $1.50 during mid-day trading on Monday, reaching $110.23. 1,128,940 shares of the stock traded hands, compared to its average volume of 544,762. The stock's fifty day simple moving average is $111.99 and its two-hundred day simple moving average is $143.75. Regal Rexnord Co. has a 1-year low of $90.56 and a 1-year high of $185.28. 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 company has a market cap of $7.30 billion, a price-to-earnings ratio of 37.37, 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 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. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The firm's revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.00 EPS. On average, research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 47.46%.

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.