89,708 Shares in Regal Rexnord Corporation $RRX Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. purchased a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the fourth quarter, Holdings Channel reports. The firm purchased 89,708 shares of the company’s stock, valued at approximately $12,588,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming grew its stake in Regal Rexnord by 97.4% during the 4th quarter. State of Wyoming now owns 1,583 shares of the company’s stock worth $222,000 after buying an additional 781 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Regal Rexnord by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 852,079 shares of the company’s stock worth $119,564,000 after buying an additional 55,043 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Regal Rexnord by 33.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 115,740 shares of the company’s stock worth $16,241,000 after buying an additional 28,693 shares during the last quarter. Natixis Advisors LLC grew its stake in Regal Rexnord by 1.4% during the 4th quarter. Natixis Advisors LLC now owns 117,707 shares of the company’s stock worth $16,517,000 after buying an additional 1,632 shares during the last quarter. Finally, Easterly Investment Partners LLC grew its stake in Regal Rexnord by 719.4% during the 4th quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company’s stock worth $10,574,000 after buying an additional 66,158 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Down 4.1%

Shares of RRX stock opened at $205.14 on Friday. The business’s 50 day moving average is $202.87 and its two-hundred day moving average is $181.66. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $236.35. The company has a market capitalization of $13.66 billion, a P/E ratio of 47.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $2.15 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Regal Rexnord Corporation will post 10.63 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s payout ratio is 32.56%.

Insider Activity at Regal Rexnord

In related news, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock worth $6,341,869 over the last three months. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RRX. Barclays raised their price target on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. raised their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group raised their price target on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $232.25.

Regal Rexnord Profile

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.