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

Handelsbanken Fonder AB raised its position in Regal Rexnord Co. (NYSE:RRX) by 22.4% in the fourth quarter, HoldingsChannel reports. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 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% during 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 worth $213,971,000 after buying an additional 83,823 shares during the last quarter. Franklin Resources Inc. lifted its stake 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 buying an additional 77,215 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Regal Rexnord by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after buying an additional 12,301 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after acquiring an additional 9,338 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

RRX has been the topic of several recent research reports. Citigroup dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird dropped their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays lowered their price target on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.75.

Regal Rexnord Stock Down 0.9 %

Shares of NYSE:RRX opened at $133.39 on Tuesday. Regal Rexnord Co. has a 1 year low of $130.94 and a 1 year high of $185.28. The company has a market capitalization of $8.83 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The business has a fifty day moving average price of $152.22 and a two-hundred day moving average price of $161.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results 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%. Analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.05%. Regal Rexnord’s dividend payout ratio (DPR) 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.