Nomura Holdings Inc. Makes New Investment in Regal Rexnord Co. (NYSE:RRX)

Nomura Holdings Inc. acquired a new stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 8,788 shares of the company's stock, valued at approximately $1,363,000.

Other hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after purchasing an additional 77 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Regal Rexnord by 4.1% during the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after buying an additional 85 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Regal Rexnord by 3.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock worth $370,000 after buying an additional 87 shares during the period. Advisory Research Inc. boosted its holdings in Regal Rexnord by 1.5% in the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company's stock worth $1,041,000 after buying an additional 98 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Regal Rexnord by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after buying an additional 101 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the transaction, the chief executive officer now owns 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RRX has been the subject of several research analyst reports. Robert W. Baird increased their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. KeyCorp cut their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup boosted their target price on shares of Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group cut their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of Regal Rexnord from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $171.25.

Regal Rexnord Trading Down 4.2%

RRX stock traded down $5.90 during midday trading on Wednesday, reaching $134.78. 887,062 shares of the company traded hands, compared to its average volume of 573,100. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 45.69, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28. The business has a 50 day moving average of $115.00 and a 200-day moving average of $141.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 EPS. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 1.04%. Regal Rexnord's payout ratio is 39.89%.

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.