Westfield Capital Management Co. LP Has $162.48 Million Stake in Regal Rexnord Co. (NYSE:RRX)

Westfield Capital Management Co. LP boosted its position in Regal Rexnord Co. (NYSE:RRX) by 68.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 979,521 shares of the company’s stock after buying an additional 399,649 shares during the period. Westfield Capital Management Co. LP owned approximately 1.48% of Regal Rexnord worth $162,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RRX. Headlands Technologies LLC bought a new stake in Regal Rexnord in the second quarter valued at $46,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord in the second quarter valued at $52,000. UMB Bank n.a. increased its stake in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Regal Rexnord in the first quarter valued at $68,000. Finally, GAMMA Investing LLC increased its stake in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Trading Up 2.1 %

Shares of RRX stock opened at $177.37 on Friday. Regal Rexnord Co. has a 52-week low of $113.79 and a 52-week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a 50-day simple moving average of $170.10 and a two-hundred day simple moving average of $157.21. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 55.95, a PEG ratio of 1.88 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 earnings per share. Research analysts anticipate that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business 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 0.79%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RRX shares. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Citigroup started coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $193.00.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.

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.