Regal Rexnord Corporation $RRX Shares Sold by Kennedy Capital Management LLC

Key Points

• Kennedy Capital Management cut its Regal Rexnord stake by 55.8% in the fourth quarter, selling 59,539 shares and ending with 47,102 shares valued at about $6.6 million.
• Insider selling has also been notable, with CFO Robert Rehard and CEO Louis V. Pinkham recently selling shares; insiders sold 30,305 shares worth about $6.34 million over the last 90 days.
• Regal Rexnord reported better-than-expected quarterly results, with EPS of $2.17 versus estimates of $2.11 and revenue of $1.48 billion versus $1.43 billion expected. Analysts remain mostly positive, with a consensus Moderate Buy rating and average price target of $235.33.

Kennedy Capital Management LLC decreased its position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 55.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,102 shares of the company's stock after selling 59,539 shares during the period. Kennedy Capital Management LLC owned about 0.07% of Regal Rexnord worth $6,609,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AIA Group Ltd acquired a new position in Regal Rexnord during the 3rd quarter worth about $1,477,000. American Century Companies Inc. acquired a new position in Regal Rexnord during the 3rd quarter worth about $47,778,000. JPMorgan Chase & Co. lifted its stake in Regal Rexnord by 97.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 260,853 shares of the company's stock worth $37,419,000 after acquiring an additional 128,468 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Regal Rexnord by 55.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 124,005 shares of the company's stock worth $17,788,000 after acquiring an additional 44,100 shares in the last quarter. Finally, Regents Gate Capital LLP acquired a new position in Regal Rexnord during the 3rd quarter worth about $2,540,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Activity

In other news, CFO Robert Rehard sold 6,499 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. This represents a 18.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the transaction, the chief executive officer owned 56,749 shares in the company, valued at approximately $12,012,628.32. The trade was a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,305 shares of company stock worth $6,341,869. 0.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RRX. Weiss Ratings reissued a "hold (c)" rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. UBS Group set a $260.00 target price on Regal Rexnord in a research note on Monday. Citigroup increased their target price on Regal Rexnord from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. KeyCorp increased their price target on Regal Rexnord from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Finally, Barclays increased their price target on Regal Rexnord from $237.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, March 23rd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and an average price target of $235.33.

Regal Rexnord Price Performance

RRX stock opened at $219.35 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. The firm has a market capitalization of $14.60 billion, a P/E ratio of 51.01, a P/E/G ratio of 2.00 and a beta of 1.11. The business's 50-day moving average is $205.99 and its two-hundred day moving average is $185.20. Regal Rexnord Corporation has a 1 year low of $127.96 and a 1 year 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 EPS. Analysts anticipate that Regal Rexnord Corporation will post 10.63 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. Regal Rexnord's dividend payout ratio (DPR) is currently 32.56%.

Regal Rexnord 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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