Nkcfo LLC Trims Holdings in Regal Rexnord Corporation $RRX

Key Points

• 90.5% stake reduction: Nkcfo LLC cut its holding in Regal Rexnord (RRX) by 90.5% in Q4, selling 9,500 shares and retaining 1,000 shares now worth $140,000.
• Notable insider selling: Director Curtis Stoelting sold 4,500 shares and CFO Robert Rehard sold 968 shares, with insiders offloading a total of 53,451 shares worth $11.39 million over the past 90 days (insiders now own 0.63%).
• Analyst sentiment remains positive: seven Buys vs. three Holds and a consensus "Moderate Buy" rating with a $229.75 price target after recent upward revisions from Barclays, Oppenheimer, Citigroup and Goldman Sachs.

Nkcfo LLC decreased its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 90.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,000 shares of the company's stock after selling 9,500 shares during the period. Nkcfo LLC's holdings in Regal Rexnord were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Torren Management LLC purchased a new stake in Regal Rexnord in the fourth quarter worth $83,000. M&T Bank Corp increased its stake in Regal Rexnord by 113.6% in the fourth quarter. M&T Bank Corp now owns 4,431 shares of the company's stock worth $622,000 after purchasing an additional 2,357 shares during the period. Pictet Asset Management Holding SA increased its stake in Regal Rexnord by 4.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,559 shares of the company's stock worth $1,341,000 after purchasing an additional 365 shares during the period. Calamos Advisors LLC increased its stake in Regal Rexnord by 13.3% in the fourth quarter. Calamos Advisors LLC now owns 25,500 shares of the company's stock worth $3,578,000 after purchasing an additional 3,000 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in Regal Rexnord by 2.7% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 38,692 shares of the company's stock worth $5,429,000 after purchasing an additional 1,029 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Insiders Place Their Bets

In other news, Director Curtis W. Stoelting sold 4,500 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total transaction of $810,000.00. Following the sale, the director owned 15,617 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Rehard sold 968 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the sale, the chief financial officer owned 34,447 shares in the company, valued at $7,681,681. The trade was a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 over the last ninety days. Insiders own 0.63% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RRX. Barclays increased their target price on Regal Rexnord from $237.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. Oppenheimer raised their price target on Regal Rexnord from $180.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, February 6th. Citigroup raised 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 target on Regal Rexnord from $170.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.75.

Regal Rexnord Price Performance

RRX opened at $215.59 on Friday. The business's 50-day moving average is $200.32 and its two-hundred day moving average is $170.57. Regal Rexnord Corporation has a 1 year low of $105.96 and a 1 year high of $229.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The firm has a market capitalization of $14.35 billion, a PE ratio of 51.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts anticipate that Regal Rexnord Corporation will post 10.76 earnings per share 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 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 presently 33.33%.

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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