Seven Eight Capital LP Purchases Shares of 4,807 Regal Rexnord Co. (NYSE:RRX)

Seven Eight Capital LP bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, HoldingsChannel reports. The fund bought 4,807 shares of the company’s stock, valued at approximately $712,000.

A number of other hedge funds also recently made changes to their positions in RRX. Cary Street Partners Investment Advisory LLC increased its position in Regal Rexnord by 652.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Regal Rexnord during the fourth quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $100,000. Global Retirement Partners LLC raised its stake in shares of Regal Rexnord by 63.9% in the 4th quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock valued at $109,000 after acquiring an additional 315 shares during the period. Finally, CWM LLC boosted its position in shares of Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock worth $109,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RRX shares. Citigroup initiated coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. Loop Capital restated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. KeyCorp cut their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Robert W. Baird raised their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.63.

Regal Rexnord Trading Down 1.9 %

Shares of NYSE:RRX traded down $3.18 during mid-day trading on Tuesday, hitting $167.04. The stock had a trading volume of 388,524 shares, compared to its average volume of 446,439. The company’s 50 day moving average is $165.20 and its 200-day moving average is $156.13. Regal Rexnord Co. has a 12-month low of $100.00 and a 12-month high of $183.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The company has a market cap of $11.11 billion, a PE ratio of -8,511.00, a P/E/G ratio of 1.78 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.04. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $2.10 EPS. On average, sell-side analysts predict that Regal Rexnord Co. will post 9.48 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently -7,000.00%.

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.