13,503 Shares in Regal Rexnord Co. (NYSE:RRX) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased 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 & Exchange Commission. The firm purchased 13,503 shares of the company’s stock, valued at approximately $2,099,000.

Other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the period. Tobam acquired a new position in Regal Rexnord during the fourth quarter worth approximately $45,000. Jones Financial Companies Lllp raised its stake in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after buying an additional 153 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after buying an additional 105 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Down 1.7 %

NYSE RRX opened at $120.80 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 1.37 and a beta of 1.11. The company has a 50 day moving average of $136.83 and a 200-day moving average of $155.77. Regal Rexnord Co. has a 1-year low of $113.73 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, equities research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.16%. Regal Rexnord’s dividend payout ratio is 47.46%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RRX. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Citigroup decreased their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Oppenheimer dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $195.13.

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.