Handelsbanken Fonder AB Acquires 125,529 Shares of Regal Rexnord Corporation $RRX

Handelsbanken Fonder AB grew its stake in Regal Rexnord Corporation (NYSE:RRX) by 516.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,819 shares of the company’s stock after acquiring an additional 125,529 shares during the period. Handelsbanken Fonder AB’s holdings in Regal Rexnord were worth $21,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. boosted its position in Regal Rexnord by 8.6% during the third quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock valued at $135,000 after purchasing an additional 75 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Regal Rexnord by 35.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock worth $43,000 after purchasing an additional 78 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Regal Rexnord by 8.9% during the 3rd quarter. UMB Bank n.a. now owns 963 shares of the company’s stock worth $138,000 after purchasing an additional 79 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Regal Rexnord by 42.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock valued at $38,000 after buying an additional 79 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the transaction, the executive vice president owned 13,219 shares in the company, valued at $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Rehard sold 7,704 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the transaction, the chief financial officer directly owned 34,154 shares in the company, valued at $7,401,854.88. This represents a 18.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 53,451 shares of company stock valued at $11,386,689. 0.82% of the stock is currently owned by insiders.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $220.86 on Friday. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 2.05 and a beta of 1.13. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $229.30. The stock’s 50 day moving average is $175.47 and its 200-day moving average is $154.72.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $2.34 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio is 33.33%.

Analyst Ratings Changes

RRX has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their target price for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Citigroup upped their target price on shares of Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. Barclays raised their target price on shares of Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Finally, KeyCorp lifted their price target on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $227.50.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.