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

Nordea Investment Management AB reduced its holdings in Regal Rexnord Corporation (NYSE:RRX) by 6.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,906,595 shares of the company’s stock after selling 122,341 shares during the quarter. Nordea Investment Management AB’s holdings in Regal Rexnord were worth $268,868,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RRX. Geneos Wealth Management Inc. raised its holdings in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord in the third quarter valued at approximately $27,000. Allworth Financial LP grew its stake in Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $28,000. Finally, SJS Investment Consulting Inc. increased its position in shares of Regal Rexnord by 95.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $215.73, for a total value of $487,981.26. Following the transaction, the executive vice president directly owned 13,219 shares of the company’s stock, valued at $2,851,734.87. This represents a 14.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert Rehard sold 968 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the transaction, the chief financial officer owned 34,447 shares in the company, valued at $7,681,681. The trade was a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 53,451 shares of company stock valued at $11,386,689. Company insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Down 5.4%

Shares of RRX opened at $175.38 on Friday. The firm has a market cap of $11.67 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $229.30. The firm’s 50-day simple moving average is $190.08 and its 200 day simple moving average is $159.53.

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

Regal Rexnord Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RRX shares. Oppenheimer increased their price objective on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Citigroup boosted their target price on shares of Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and decreased their price objective for the company from $170.00 to $160.00 in a research report on Wednesday, December 10th. Finally, KeyCorp boosted their price objective on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.