Lighthouse Investment Partners LLC Has $6.05 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Lighthouse Investment Partners LLC raised its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 1,089.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,000 shares of the company's stock after buying an additional 35,721 shares during the quarter. Lighthouse Investment Partners LLC owned about 0.06% of Regal Rexnord worth $6,050,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RRX. Victory Capital Management Inc. raised its holdings in shares of Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after purchasing an additional 363,728 shares during the period. Norges Bank acquired a new stake in Regal Rexnord during the fourth quarter worth about $235,188,000. TimesSquare Capital Management LLC lifted its holdings in Regal Rexnord by 35.7% in the fourth 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 last quarter. JPMorgan Chase & Co. boosted its stake in Regal Rexnord by 56.8% in the fourth 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 during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Regal Rexnord by 10.1% during the fourth 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 last quarter. Institutional investors own 99.72% of the company's stock.

Insider Buying and Selling at Regal Rexnord

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

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded up $1.82 on Friday, hitting $141.52. 870,875 shares of the company were exchanged, compared to its average volume of 568,105. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company's 50 day moving average price is $114.03 and its two-hundred day moving average price is $141.65. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 47.97, a PEG 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 EPS for the quarter, beating 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 firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the firm posted $2.00 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis. Research 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. Shareholders of record on Monday, June 30th will be paid 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 yield of 0.99%. Regal Rexnord's dividend payout ratio is currently 39.89%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RRX. Oppenheimer lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Robert W. Baird raised their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective 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. StockNews.com cut Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Barclays boosted their price target on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $171.25.

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.