Kennedy Capital Management LLC Reduces Stake in Regal Rexnord Corporation $RRX

Kennedy Capital Management LLC lowered its holdings in Regal Rexnord Corporation (NYSE:RRX) by 55.8% during the fourth quarter, HoldingsChannel reports. The fund owned 47,102 shares of the company’s stock after selling 59,539 shares during the period. Kennedy Capital Management LLC’s holdings in Regal Rexnord were worth $6,609,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the 3rd quarter worth approximately $27,000. Garner Asset Management Corp purchased a new position in Regal Rexnord during the 4th quarter worth approximately $27,000. Finally, IFP Advisors Inc grew its stake in Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RRX shares. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Barclays raised their price target on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. UBS Group set a $260.00 price target on Regal Rexnord in a research note on Monday. Finally, KeyCorp raised their price target on Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.33.

Insider Activity at Regal Rexnord

In related news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the sale, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the sale, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock worth $6,341,869 over the last three months. 0.63% of the stock is currently owned by corporate insiders.

Regal Rexnord Trading Up 3.3%

NYSE:RRX opened at $219.35 on Tuesday. The stock’s 50 day moving average price is $205.99 and its 200 day moving average price is $185.20. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $236.35. The company has a market capitalization of $14.60 billion, a PE ratio of 51.01, a P/E/G ratio of 2.00 and a beta of 1.11. 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 announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $2.15 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, research analysts anticipate that Regal Rexnord Corporation will post 10.63 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s payout ratio is 32.56%.

About Regal Rexnord

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.