Krane Funds Advisors LLC Has $1.97 Million Stock Holdings in Regal Rexnord Corporation $RRX

Krane Funds Advisors LLC increased its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,066 shares of the company’s stock after acquiring an additional 2,731 shares during the period. Krane Funds Advisors LLC’s holdings in Regal Rexnord were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Regal Rexnord by 138.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock worth $566,981,000 after acquiring an additional 2,303,373 shares in the last quarter. Viking Global Investors LP boosted its position in shares of Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after acquiring an additional 701,145 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Regal Rexnord by 14.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock worth $344,103,000 after acquiring an additional 303,378 shares in the last quarter. Invesco Ltd. boosted its position in shares of Regal Rexnord by 17.7% during the 3rd quarter. Invesco Ltd. now owns 1,500,000 shares of the company’s stock worth $215,160,000 after acquiring an additional 225,734 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Regal Rexnord by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 1,231,262 shares of the company’s stock valued at $172,806,000 after purchasing an additional 55,797 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Citigroup increased their price target on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, April 13th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. KeyCorp raised their price objective on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.25.

Insider Activity

In other news, CEO Louis V. Pinkham sold 22,509 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the transaction, the chief executive officer owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the transaction, the director directly owned 5,503 shares of the company’s stock, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 30,305 shares of company stock valued at $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Trading Up 0.4%

NYSE RRX opened at $205.14 on Monday. The business’s fifty day moving average is $202.87 and its 200 day moving average is $182.03. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 47.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $236.35. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.15 earnings per share. As a group, sell-side analysts expect that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is presently 32.56%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.