Nkcfo LLC Buys 5,000 Shares of Regal Rexnord Corporation $RRX

Nkcfo LLC raised its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 90.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Nkcfo LLC’s holdings in Regal Rexnord were worth $1,506,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Granite Investment Partners LLC raised its holdings in shares of Regal Rexnord by 579.9% in the third quarter. Granite Investment Partners LLC now owns 61,374 shares of the company’s stock valued at $8,803,000 after purchasing an additional 52,347 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Regal Rexnord by 13.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,002 shares of the company’s stock worth $287,000 after purchasing an additional 231 shares in the last quarter. EDENTREE ASSET MANAGEMENT Ltd increased its stake in Regal Rexnord by 4.7% in the 3rd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 7,950 shares of the company’s stock valued at $1,140,000 after buying an additional 360 shares during the last quarter. Syon Capital LLC bought a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $275,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Regal Rexnord in the 3rd quarter worth approximately $207,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Up 1.2%

Shares of NYSE RRX opened at $218.02 on Tuesday. The business’s fifty day moving average price is $169.10 and its 200-day moving average price is $152.53. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $229.30. The stock has a market capitalization of $14.47 billion, a PE ratio of 51.91, a P/E/G ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 EPS. On average, equities research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RRX. Oppenheimer lifted their price target on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. JPMorgan Chase & Co. raised their target price on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a research report on Friday, February 6th. Finally, Citigroup raised 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.50.

Insider Buying and Selling at Regal Rexnord

In other news, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the transaction, the director directly owned 15,617 shares of the company’s stock, valued at $2,811,060. This trade represents a 22.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares of the company’s stock, valued at approximately $2,851,734.87. This trade represents a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 51,194 shares of company stock valued at $10,883,211 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

About Regal Rexnord

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.