Dark Forest Capital Management LP Buys 995 Shares of Regal Rexnord Co. (NYSE:RRX)

Dark Forest Capital Management LP raised its stake in Regal Rexnord Co. (NYSE:RRX) by 25.1% in the second quarter, Holdings Channel.com reports. The firm owned 4,965 shares of the company’s stock after acquiring an additional 995 shares during the period. Dark Forest Capital Management LP’s holdings in Regal Rexnord were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Regal Rexnord during the first quarter worth about $33,000. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord in the second quarter valued at $46,000. EntryPoint Capital LLC bought a new position in Regal Rexnord in the first quarter worth $68,000. 1620 Investment Advisors Inc. bought a new position in Regal Rexnord in the second quarter worth $52,000. Finally, Riverview Trust Co acquired a new stake in Regal Rexnord during the first quarter worth $75,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 2.5 %

Shares of NYSE RRX opened at $168.93 on Friday. The company’s 50 day simple moving average is $157.66 and its 200 day simple moving average is $156.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The firm has a market capitalization of $11.24 billion, a P/E ratio of -351.94, a P/E/G ratio of 1.77 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis. On average, analysts predict that Regal Rexnord Co. will post 9.48 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

Analyst Ratings Changes

A number of research firms have recently commented on RRX. KeyCorp reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. StockNews.com lowered Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Loop Capital reaffirmed a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays lowered their target price on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.29.

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.