Regal Rexnord Co. (NYSE:RRX) Stock Holdings Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,614 shares of the company’s stock after purchasing an additional 2,800 shares during the period. Handelsbanken Fonder AB’s holdings in Regal Rexnord were worth $2,590,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RRX. Vanguard Group Inc. grew its position in shares of Regal Rexnord by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after acquiring an additional 24,847 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after purchasing an additional 4,342 shares during the last quarter. Blair William & Co. IL increased its stake in Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after purchasing an additional 4,798 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Regal Rexnord by 18.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after buying an additional 47,379 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Regal Rexnord in the 1st quarter valued at about $19,508,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RRX shares. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Raymond James assumed coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. Loop Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, Barclays boosted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.71.

Regal Rexnord Trading Up 0.9 %

NYSE:RRX opened at $166.91 on Thursday. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The business has a fifty day moving average of $159.95 and a 200-day moving average of $156.22. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of -347.73, a PEG ratio of 1.77 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. Regal Rexnord’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the company earned $2.56 EPS. Equities analysts predict that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is currently -291.67%.

Regal Rexnord 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.