Gotham Asset Management LLC Has $13.70 Million Stock Position in Regal Rexnord Co. (NYSE:RRX)

Gotham Asset Management LLC lowered its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,336 shares of the company's stock after selling 29,040 shares during the quarter. Gotham Asset Management LLC owned 0.13% of Regal Rexnord worth $13,704,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after purchasing an additional 363,728 shares during the period. Norges Bank acquired a new position in Regal Rexnord during the fourth quarter valued at $235,188,000. TimesSquare Capital Management LLC boosted its position in Regal Rexnord by 35.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock worth $137,150,000 after acquiring an additional 232,509 shares during the period. JPMorgan Chase & Co. grew its stake in 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 acquiring an additional 247,673 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Regal Rexnord by 10.1% in the 4th quarter. Clearbridge Investments LLC now owns 617,762 shares of the company's stock valued at $95,833,000 after purchasing an additional 56,590 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 1.6 %

Shares of RRX stock opened at $134.24 on Friday. The business's 50 day moving average is $111.89 and its two-hundred day moving average is $142.36. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a market cap of $8.90 billion, a PE 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 released 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. The firm had revenue of $1.42 billion during 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%. The business's revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 EPS. Equities analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 39.89%.

Analyst Ratings Changes

A number of research analysts recently commented on RRX shares. Citigroup boosted 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. Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Barclays cut their price target on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.63.

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.

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