Krane Funds Advisors LLC Raises Stock Position in Regal Rexnord Corporation $RRX

Krane Funds Advisors LLC increased its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 437.5% during the third quarter, HoldingsChannel.com reports. The fund owned 11,335 shares of the company’s stock after acquiring an additional 9,226 shares during the period. Krane Funds Advisors LLC’s holdings in Regal Rexnord were worth $1,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its position in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Regal Rexnord in the third quarter worth $28,000. SJS Investment Consulting Inc. boosted its stake in Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after buying an additional 97 shares during the period. Geneos Wealth Management Inc. grew its position 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Regal Rexnord by 42.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after acquiring an additional 79 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

NYSE RRX opened at $218.02 on Tuesday. The company has a 50-day simple moving average of $169.10 and a two-hundred day simple moving average of $152.53. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $229.30. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.00 and a beta of 1.13. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

Regal Rexnord (NYSE:RRX) last released its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 EPS. On average, equities analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.6%. Regal Rexnord’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

RRX has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. raised their target price on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Barclays boosted their price target on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” 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 research report on Friday, February 6th. Finally, Citigroup lifted their price objective on shares of Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.50.

Insider Buying and Selling

In other news, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the transaction, the director owned 15,617 shares in the company, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Louis V. Pinkham sold 36,728 shares of Regal Rexnord stock in a transaction on Monday, February 9th. The stock was sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the completion of the transaction, the chief executive officer directly owned 83,337 shares in the company, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 51,194 shares of company stock worth $10,883,211. 0.82% of the stock is owned by company insiders.

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.