Kennedy Capital Management LLC Buys 25,973 Shares of Regal Rexnord Corporation $RRX

Key Points

• Kennedy Capital Management boosted its stake in Regal Rexnord by 32.2%, buying 25,973 shares to hold 106,641 shares (~0.16%) valued at $15.3 million, as institutional ownership remains very high at 99.72%.
• Regal Rexnord beat Q earnings with $2.51 EPS (vs. $2.47 est.) but missed revenue slightly at $1.52B; the stock trades near $187.52 (market cap $12.47B, PE ~44.5), the company declared a $0.35 quarterly dividend, and analysts have an average price target of $227.50 with a "Moderate Buy" consensus.

Kennedy Capital Management LLC grew its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 32.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,641 shares of the company's stock after purchasing an additional 25,973 shares during the period. Kennedy Capital Management LLC owned approximately 0.16% of Regal Rexnord worth $15,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in Regal Rexnord by 475.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,991 shares of the company's stock valued at $3,154,000 after acquiring an additional 18,168 shares in the last quarter. Granite Investment Partners LLC bought a new stake in Regal Rexnord during the 2nd quarter worth approximately $1,309,000. American Century Companies Inc. purchased a new stake in shares of Regal Rexnord in the third quarter worth approximately $47,778,000. Nordea Investment Management AB raised its stake in shares of Regal Rexnord by 30.7% in the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company's stock worth $289,083,000 after purchasing an additional 476,802 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Regal Rexnord by 233.6% in the second quarter. Prudential Financial Inc. now owns 45,281 shares of the company's stock valued at $6,564,000 after purchasing an additional 31,709 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of RRX traded down $0.11 on Friday, reaching $187.52. 54,613 shares of the company's stock traded hands, compared to its average volume of 1,102,175. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock has a market cap of $12.47 billion, a PE ratio of 44.49, a PEG ratio of 1.88 and a beta of 1.05. The stock's 50 day simple moving average is $186.04 and its two-hundred day simple moving average is $158.03. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $229.30.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 earnings per share. On average, analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord's payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. KeyCorp upped their price target on Regal Rexnord from $200.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Citigroup raised their price objective on Regal Rexnord from $180.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Robert W. Baird set a $253.00 price objective on shares of Regal Rexnord in a report on Friday, February 6th. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group downgraded shares of Regal Rexnord from a "buy" rating to a "hold" rating and lowered their target price for the company from $170.00 to $160.00 in a report on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Regal Rexnord has an average rating of "Moderate Buy" and an average price target of $227.50.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of Regal Rexnord stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the sale, the director owned 15,617 shares of the company's stock, valued at approximately $2,811,060. The trade was a 22.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Cheryl Lewis sold 2,262 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares in the company, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,451 shares of company stock valued at $11,386,689 over the last quarter. Corporate insiders own 0.82% of the company's stock.

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.

Want to see what other hedge funds are holding RRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Rexnord Corporation (NYSE:RRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.