Regal Rexnord Co. (NYSE:RRX) Stock Holdings Lifted by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 3,462.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,102 shares of the company's stock after buying an additional 82,713 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.13% of Regal Rexnord worth $13,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after acquiring an additional 363,728 shares in the last quarter. Norges Bank acquired a new position in Regal Rexnord in the fourth quarter worth $235,188,000. TimesSquare Capital Management LLC increased its stake in Regal Rexnord by 35.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after purchasing an additional 232,509 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Regal Rexnord by 56.8% during the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock worth $106,106,000 after purchasing an additional 247,673 shares during the period. Finally, Clearbridge Investments LLC lifted its position 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 worth $95,833,000 after buying an additional 56,590 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of RRX traded up $2.05 during trading hours on Friday, reaching $134.24. 981,133 shares of the company's stock traded hands, compared to its average volume of 557,182. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28. The business's fifty day simple moving average is $111.89 and its two-hundred day simple moving average is $142.36. 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 firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 45.51, a P/E/G ratio of 1.37 and a beta of 1.11.

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 analysts' consensus estimates of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Regal Rexnord's revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. Analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's payout ratio is currently 39.89%.

Analyst Upgrades and Downgrades

RRX has been the subject of a number of recent research reports. StockNews.com downgraded shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Barclays reduced their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Robert W. Baird increased their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Citigroup boosted their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of "Moderate Buy" and a consensus price target of $170.63.

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.