Nomura Holdings Inc. Makes New $1.36 Million Investment in Regal Rexnord Co. (NYSE:RRX)

Nomura Holdings Inc. bought a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,788 shares of the company's stock, valued at approximately $1,363,000.

A number of other large investors have also modified their holdings of RRX. JPMorgan Chase & Co. grew its stake in Regal Rexnord by 56.8% during the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after acquiring an additional 247,673 shares in the last quarter. Atria Investments Inc grew its position in shares of Regal Rexnord by 48.9% in the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after purchasing an additional 759 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Regal Rexnord by 16.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock valued at $2,613,000 after purchasing an additional 2,414 shares in the last quarter. Norges Bank acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $235,188,000. Finally, Hantz Financial Services Inc. lifted its position in Regal Rexnord by 4.2% during the fourth quarter. Hantz Financial Services Inc. now owns 104,273 shares of the company's stock worth $16,176,000 after buying an additional 4,157 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the sale, the chief executive officer now directly owns 175,954 shares in the company, valued at $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays raised their target price on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Robert W. Baird lifted their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. KeyCorp cut their price target 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. Finally, Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of "Buy" and a consensus target price of $171.25.

Regal Rexnord Stock Down 1.3%

Shares of Regal Rexnord stock traded down $1.72 during trading hours on Friday, reaching $133.28. 133,218 shares of the company were exchanged, compared to its average volume of 573,581. The firm has a market cap of $8.84 billion, a PE ratio of 45.24, a PEG ratio of 1.37 and a beta of 1.11. 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 Co. has a 1 year low of $90.56 and a 1 year high of $185.28. The stock's fifty day moving average is $115.70 and its 200 day moving average is $140.80.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business posted $2.00 EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. 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.