Nomura Asset Management Co. Ltd. Increases Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 30.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 430 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Regal Rexnord were worth $71,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RRX. Headlands Technologies LLC purchased a new position in Regal Rexnord during the 2nd quarter worth $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord during the second quarter worth about $52,000. UMB Bank n.a. raised its holdings in Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares in the last quarter. CWM LLC lifted its position in Regal Rexnord by 25.4% in the second quarter. CWM LLC now owns 825 shares of the company’s stock valued at $112,000 after purchasing an additional 167 shares during the period. Finally, Quarry LP boosted its holdings in Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after purchasing an additional 768 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RRX. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. The Goldman Sachs Group increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup assumed coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays boosted their price objective on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Regal Rexnord Stock Performance

Shares of RRX opened at $168.88 on Monday. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28. The stock has a market cap of $11.18 billion, a P/E ratio of 53.27, a PEG ratio of 1.83 and a beta of 1.03. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $171.79 and a two-hundred day moving average of $158.82.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 EPS. As a group, research analysts predict that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is currently 44.16%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by company insiders.

Regal Rexnord Company 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.