KBC Group NV Sells 928 Shares of Regal Rexnord Corporation $RRX

KBC Group NV lowered its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 32.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,961 shares of the company’s stock after selling 928 shares during the period. KBC Group NV’s holdings in Regal Rexnord were worth $284,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in RRX. Nordea Investment Management AB acquired a new position in Regal Rexnord in the 2nd quarter valued at approximately $224,889,000. Nuveen LLC acquired a new position in shares of Regal Rexnord in the first quarter valued at $117,996,000. Invesco Ltd. lifted its position in Regal Rexnord by 76.3% in the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock worth $106,203,000 after purchasing an additional 403,845 shares during the period. Dimensional Fund Advisors LP lifted its position in Regal Rexnord by 30.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after purchasing an additional 396,737 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in Regal Rexnord during the first quarter worth $25,678,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RRX. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a research report on Friday, October 31st. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a research report on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.63.

Regal Rexnord Stock Performance

NYSE RRX opened at $129.88 on Wednesday. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $182.70. The company has a 50 day moving average of $141.72 and a 200-day moving average of $143.37. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 1.52 and a beta of 1.19.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a return on equity of 9.75% and a net margin of 4.38%.The business had revenue of $1.85 billion for the quarter. On average, equities analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. Regal Rexnord’s dividend payout ratio (DPR) is 36.18%.

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.