Handelsbanken Fonder AB Purchases 3,500 Shares of Regal Rexnord Co. (NYSE:RRX)

Handelsbanken Fonder AB lifted its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,114 shares of the company's stock after purchasing an additional 3,500 shares during the quarter. Handelsbanken Fonder AB's holdings in Regal Rexnord were worth $2,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in Regal Rexnord during the 3rd quarter valued at about $83,460,000. Westfield Capital Management Co. LP grew its holdings in shares of Regal Rexnord by 68.9% during the third quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company's stock valued at $162,483,000 after buying an additional 399,649 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of Regal Rexnord by 35.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after acquiring an additional 232,509 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock worth $213,971,000 after acquiring an additional 83,823 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after acquiring an additional 77,215 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

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Regal Rexnord Stock Performance

Shares of NYSE:RRX traded down $0.49 during trading on Friday, hitting $129.45. The company's stock had a trading volume of 739,768 shares, compared to its average volume of 614,087. The company has a 50-day moving average of $150.66 and a 200-day moving average of $161.05. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 43.88, a P/E/G ratio of 1.37 and a beta of 1.03. Regal Rexnord Co. has a 12 month low of $127.67 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is currently 47.46%.

Analyst Ratings Changes

A number of analysts have commented on the company. Oppenheimer reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. StockNews.com downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 target price on the stock. Citigroup reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $197.75.

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.