KLP Kapitalforvaltning AS Acquires New Shares in Regal Rexnord Co. (NYSE:RRX)

KLP Kapitalforvaltning AS acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,503 shares of the company's stock, valued at approximately $2,099,000.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after buying an additional 363,728 shares during the last quarter. State Street Corp boosted its position in shares of Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company's stock valued at $327,944,000 after acquiring an additional 24,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock valued at $213,971,000 after purchasing an additional 83,823 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after purchasing an additional 9,338 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. Barclays dropped their price target on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Citigroup decreased their price objective 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. The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, StockNews.com lowered Regal Rexnord from a "buy" rating to a "hold" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of "Moderate Buy" and an average target price of $195.13.

Regal Rexnord Trading Up 0.8 %

Regal Rexnord stock traded up $0.91 during mid-day trading on Tuesday, hitting $114.76. The company's stock had a trading volume of 534,122 shares, compared to its average volume of 492,894. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a 50 day moving average of $134.26 and a 200-day moving average of $155.14. Regal Rexnord Co. has a one year low of $111.15 and a one year high of $185.28. The stock has a market cap of $7.60 billion, a PE ratio of 38.90, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, March 31st. Regal Rexnord's dividend payout ratio is presently 47.46%.

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.