KLP Kapitalforvaltning AS Purchases 300 Shares of Regal Rexnord Corporation $RRX

KLP Kapitalforvaltning AS grew its position in Regal Rexnord Corporation (NYSE:RRX) by 2.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 13,803 shares of the company’s stock after acquiring an additional 300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Regal Rexnord were worth $2,005,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after acquiring an additional 295 shares during the last quarter. Headlands Technologies LLC bought a new position in Regal Rexnord during the 1st quarter worth $81,000. Finally, Parallel Advisors LLC raised its position in Regal Rexnord by 69.0% during the 2nd quarter. Parallel Advisors LLC now owns 818 shares of the company’s stock worth $119,000 after purchasing an additional 334 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $134.68 on Monday. 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 business has a 50-day moving average price of $145.19 and a two-hundred day moving average price of $136.21. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The company has a market cap of $8.94 billion, a P/E ratio of 35.82, a PEG ratio of 1.35 and a beta of 1.16.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The firm had revenue of $1.85 billion during the quarter. As a group, analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 37.23%.

Analyst Upgrades and Downgrades

RRX has been the subject of several analyst reports. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. KeyCorp set a $180.00 target price on Regal Rexnord and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. The Goldman Sachs Group lowered their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, Barclays lowered their target price on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a research report on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $181.63.

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.