Krane Funds Advisors LLC increased its position in shares of Regal Rexnord Corporation (NYSE:RRX – Free Report) by 24.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,066 shares of the company’s stock after buying an additional 2,731 shares during the period. Krane Funds Advisors LLC’s holdings in Regal Rexnord were worth $1,974,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of RRX. AQR Capital Management LLC raised its stake in Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock worth $2,011,000 after buying an additional 11,987 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Regal Rexnord by 91.6% during the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after buying an additional 295 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Regal Rexnord by 135.1% during the first 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. Cetera Investment Advisers raised its stake in Regal Rexnord by 6.7% during the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after buying an additional 196 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Regal Rexnord during the second quarter worth $4,759,000. Institutional investors own 99.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on RRX. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. KeyCorp raised their price target on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays raised their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Citigroup raised their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $232.25.
Insider Activity
In other news, CEO Louis V. Pinkham sold 22,509 shares of Regal Rexnord stock in a transaction dated 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 directly owned 56,749 shares in the company, valued at $12,012,628.32. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated 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 owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This represents a 19.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,305 shares of company stock worth $6,341,869 over the last three months. 0.63% of the stock is currently owned by insiders.
Regal Rexnord Trading Up 0.4%
NYSE:RRX opened at $205.14 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 1.92 and a beta of 1.11. The firm has a fifty day simple moving average of $202.87 and a two-hundred day simple moving average of $182.03. Regal Rexnord Corporation has a 12 month low of $127.96 and a 12 month high of $236.35.
Regal Rexnord (NYSE:RRX – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $2.15 earnings per share. Analysts expect that Regal Rexnord Corporation will post 10.63 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 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.
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