Nordea Investment Management AB Sells 122,341 Shares of Regal Rexnord Corporation $RRX

Nordea Investment Management AB trimmed its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,906,595 shares of the company’s stock after selling 122,341 shares during the period. Nordea Investment Management AB owned approximately 2.87% of Regal Rexnord worth $268,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP raised its position in shares of Regal Rexnord by 35.9% in the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $38,000 after acquiring an additional 70 shares during the period. 1620 Investment Advisors Inc. grew its holdings 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 period. Geneos Wealth Management Inc. increased its stake in Regal Rexnord by 35.3% in the second quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock valued at $43,000 after purchasing an additional 78 shares in the last quarter. UMB Bank n.a. increased its stake in Regal Rexnord by 8.9% in the third quarter. UMB Bank n.a. now owns 963 shares of the company’s stock valued at $138,000 after purchasing an additional 79 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Regal Rexnord by 42.5% in the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Down 5.4%

Regal Rexnord stock opened at $175.38 on Friday. The company has a 50 day moving average of $190.08 and a 200-day moving average of $159.53. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $229.30. The stock has a market capitalization of $11.67 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $2.34 earnings per share. On average, equities research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RRX. Jefferies Financial Group cut shares of Regal Rexnord from a “buy” rating to a “hold” rating and reduced their price target for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. KeyCorp raised their price objective on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. JPMorgan Chase & Co. boosted their target price on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Robert W. Baird set a $253.00 price target on Regal Rexnord in a report on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $227.50.

Insider Transactions at Regal Rexnord

In related news, CFO Robert Rehard sold 7,704 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 34,154 shares in the company, valued at approximately $7,401,854.88. This trade represents a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Curtis W. Stoelting sold 4,500 shares of Regal Rexnord stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the sale, the director directly owned 15,617 shares in the company, valued at approximately $2,811,060. This represents a 22.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,451 shares of company stock valued at $11,386,689 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Company 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.