Kettle Hill Capital Management LLC Makes New Investment in Regal Rexnord Corporation $RRX

Key Points

• Kettle Hill Capital Management LLC has acquired 27,621 shares of Regal Rexnord Corporation (NYSE: RRX), valued at approximately $3,145,000, making it the 29th largest holding for the investor.
• Analysts are optimistic about Regal Rexnord, with a majority rating the stock as a Buy and a consensus price target of $185.25, reflecting positive revisions from various brokerages.
• Regal Rexnord recently reported earnings of $2.48 per share, exceeding estimates, along with a quarterly dividend of $0.35 set to be paid on October 14th, indicating a 0.9% yield.

Kettle Hill Capital Management LLC bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,621 shares of the company's stock, valued at approximately $3,145,000. Regal Rexnord makes up approximately 0.9% of Kettle Hill Capital Management LLC's portfolio, making the stock its 29th largest position.

Other hedge funds have also modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $1,427,000. Avantax Advisory Services Inc. raised its holdings in shares of Regal Rexnord by 19.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company's stock worth $359,000 after purchasing an additional 519 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Regal Rexnord in the 4th quarter valued at about $9,463,000. Polianta Ltd raised its holdings in shares of Regal Rexnord by 33.8% during the 1st quarter. Polianta Ltd now owns 9,100 shares of the company's stock valued at $1,036,000 after buying an additional 2,300 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in Regal Rexnord by 22.5% during the 1st quarter. Ritholtz Wealth Management now owns 1,979 shares of the company's stock worth $225,000 after purchasing an additional 363 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 0.9%

NYSE RRX traded down $1.34 during trading hours on Tuesday, hitting $142.38. The company's stock had a trading volume of 468,802 shares, compared to its average volume of 759,738. The stock has a fifty day moving average of $149.08 and a 200 day moving average of $132.84. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The firm has a market capitalization of $9.45 billion, a P/E ratio of 37.87, a PEG ratio of 1.47 and a beta of 1.18. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Regal Rexnord's revenue was down 3.3% compared to the same quarter last year. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Equities research analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is currently 37.23%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RRX. Barclays boosted their price objective on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Citigroup restated a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Wall Street Zen lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $185.25.

Regal Rexnord Company Profile

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.