Westfield Capital Management Co. LP Buys 47,379 Shares of Regal Rexnord Co. (NYSE:RRX)

Westfield Capital Management Co. LP raised its stake in Regal Rexnord Co. (NYSE:RRX) by 18.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 302,532 shares of the company’s stock after buying an additional 47,379 shares during the quarter. Westfield Capital Management Co. LP owned about 0.45% of Regal Rexnord worth $54,486,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RRX. Raymond James Trust N.A. increased its stake in Regal Rexnord by 40.9% in the 4th quarter. Raymond James Trust N.A. now owns 2,760 shares of the company’s stock valued at $409,000 after buying an additional 801 shares during the last quarter. Vest Financial LLC acquired a new position in Regal Rexnord during the fourth quarter valued at approximately $242,000. Legato Capital Management LLC boosted its position in Regal Rexnord by 34.5% during the fourth quarter. Legato Capital Management LLC now owns 5,415 shares of the company’s stock valued at $802,000 after purchasing an additional 1,389 shares during the last quarter. Profit Investment Management LLC boosted its position in Regal Rexnord by 7.0% during the fourth quarter. Profit Investment Management LLC now owns 24,562 shares of the company’s stock valued at $3,636,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. boosted its position in Regal Rexnord by 1.1% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 31,452 shares of the company’s stock valued at $4,656,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Regal Rexnord stock traded down $1.08 during mid-day trading on Friday, reaching $148.35. 313,720 shares of the company were exchanged, compared to its average volume of 442,208. The company has a fifty day simple moving average of $145.22 and a 200-day simple moving average of $154.20. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The firm has a market cap of $9.87 billion, a PE ratio of -309.06, a PEG ratio of 1.52 and a beta of 1.06.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $2.22 EPS. The company’s revenue was up 26.4% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.35 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. Regal Rexnord’s payout ratio is -291.67%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays reduced their price target on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Robert W. Baird raised their price objective on Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Raymond James began coverage on Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating for the company. KeyCorp cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.

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.