49,000 Shares in Regal Rexnord Co. (NYSE:RRX) Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP acquired a new position in Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 49,000 shares of the company’s stock, valued at approximately $7,601,000.

A number of other hedge funds have also recently added to or reduced their stakes in RRX. Norges Bank acquired a new position in Regal Rexnord in the fourth quarter worth approximately $235,188,000. Victory Capital Management Inc. increased its holdings in Regal Rexnord by 20.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after buying an additional 363,728 shares during the last quarter. Cartenna Capital LP acquired a new position in Regal Rexnord in the fourth quarter worth approximately $55,900,000. Alyeska Investment Group L.P. increased its holdings in Regal Rexnord by 425.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 400,050 shares of the company’s stock worth $62,060,000 after buying an additional 323,904 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock worth $106,106,000 after buying an additional 247,673 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analysts Set New Price Targets

RRX has been the topic of a number of research reports. Barclays dropped their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. KeyCorp lowered their price target on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. StockNews.com downgraded Regal Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $170.63.

Regal Rexnord Trading Up 1.6%

Shares of Regal Rexnord stock opened at $134.24 on Monday. The company’s fifty day simple moving average is $111.89 and its 200-day simple moving average is $142.18. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 45.51, a PEG ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. The business 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 quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. Regal Rexnord’s payout ratio is 39.89%.

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.