KBC Group NV Grows Stake in Regal Rexnord Co. (NYSE:RRX)

KBC Group NV increased its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 1,136.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,199 shares of the company's stock after buying an additional 20,404 shares during the period. KBC Group NV's holdings in Regal Rexnord were worth $3,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in Regal Rexnord by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company's stock valued at $325,000 after purchasing an additional 61 shares in the last quarter. Hengehold Capital Management LLC lifted its stake in shares of Regal Rexnord by 1.5% in the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company's stock worth $716,000 after buying an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. boosted its position in Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company's stock worth $75,000 after acquiring an additional 67 shares during the last quarter. iA Global Asset Management Inc. grew its stake in Regal Rexnord by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company's stock valued at $436,000 after acquiring an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Regal Rexnord by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company's stock valued at $601,000 after acquiring an additional 95 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 2.1 %

NYSE RRX traded up $3.18 during trading hours on Tuesday, reaching $155.06. The company had a trading volume of 671,632 shares, compared to its average volume of 499,024. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $10.27 billion, a P/E ratio of 48.91, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The stock has a 50-day moving average of $161.31 and a 200 day moving average of $163.10. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm earned $2.10 EPS. The firm's revenue for the quarter was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that Regal Rexnord Co. will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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 issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.90%. Regal Rexnord's dividend payout ratio is presently 44.16%.

Insider Activity at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RRX shares. StockNews.com cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. Robert W. Baird lowered their price objective on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Citigroup cut their target price on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their price target 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. Finally, Barclays cut their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and a consensus price target of $202.00.

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.