Kennedy Capital Management LLC Grows Holdings in Regal Rexnord Corporation $RRX

Kennedy Capital Management LLC boosted its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 17.8% during the second quarter, Holdings Channel.com reports. The fund owned 80,668 shares of the company’s stock after acquiring an additional 12,218 shares during the quarter. Kennedy Capital Management LLC’s holdings in Regal Rexnord were worth $11,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its stake in shares of Regal Rexnord by 19.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company’s stock valued at $359,000 after buying an additional 519 shares in the last quarter. Cetera Investment Advisers increased its stake in Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company’s stock worth $332,000 after buying an additional 102 shares in the last quarter. US Bancorp DE raised its holdings in Regal Rexnord by 12.5% during the first quarter. US Bancorp DE now owns 1,828 shares of the company’s stock valued at $208,000 after acquiring an additional 203 shares during the period. Wealthspire Advisors LLC lifted its position in shares of Regal Rexnord by 94.4% in the first quarter. Wealthspire Advisors LLC now owns 4,750 shares of the company’s stock valued at $541,000 after acquiring an additional 2,307 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Regal Rexnord by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 442,186 shares of the company’s stock worth $50,343,000 after acquiring an additional 10,034 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the sale, the chief executive officer owned 103,262 shares in the company, valued at approximately $15,096,904.40. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. KeyCorp dropped their target price on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. JPMorgan Chase & Co. cut their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Barclays reaffirmed an “overweight” rating and set a $165.00 price target on shares of Regal Rexnord in a research note on Monday, November 3rd. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, Robert W. Baird set a $212.00 target price on shares of Regal Rexnord in a report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.63.

Regal Rexnord Stock Up 2.5%

NYSE RRX opened at $141.47 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $173.89. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 1.44 and a beta of 1.11. The company has a fifty day moving average of $141.40 and a two-hundred day moving average of $143.78.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. The business had revenue of $1.85 billion for the quarter. On average, analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio is currently 36.18%.

About Regal Rexnord

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.