Hudson Bay Capital Management LP Buys New Position in Regal Rexnord Co. (NYSE:RRX)

Hudson Bay Capital Management LP bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,000 shares of the company’s stock, valued at approximately $7,601,000. Hudson Bay Capital Management LP owned approximately 0.07% of Regal Rexnord as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Regal Rexnord by 56.8% in the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company’s stock valued at $106,106,000 after buying an additional 247,673 shares in the last quarter. Atria Investments Inc lifted its holdings in Regal Rexnord by 48.9% in the 4th quarter. Atria Investments Inc now owns 2,310 shares of the company’s stock valued at $358,000 after acquiring an additional 759 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Regal Rexnord by 16.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock valued at $2,613,000 after acquiring an additional 2,414 shares during the last quarter. Norges Bank acquired a new stake in Regal Rexnord in the 4th quarter valued at about $235,188,000. Finally, Hantz Financial Services Inc. lifted its holdings in Regal Rexnord by 4.2% in the 4th quarter. Hantz Financial Services Inc. now owns 104,273 shares of the company’s stock valued at $16,176,000 after acquiring an additional 4,157 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX stock opened at $134.24 on Monday. 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 one year low of $90.56 and a one year high of $185.28. The firm has a market capitalization of $8.90 billion, a PE ratio of 45.51, a P/E/G ratio of 1.37 and a beta of 1.11. The firm has a 50-day moving average of $111.89 and a two-hundred day moving average of $142.18.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.33. The company 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 quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 earnings per share. On average, analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RRX shares. Barclays cut their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. KeyCorp cut their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup upped 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. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average target price of $170.63.

About Regal Rexnord

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.