Krane Funds Advisors LLC Has $1.59 Million Stake in Regal Rexnord Corporation $RRX

Krane Funds Advisors LLC grew its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 437.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,335 shares of the company’s stock after purchasing an additional 9,226 shares during the period. Krane Funds Advisors LLC’s holdings in Regal Rexnord were worth $1,594,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RRX. Geneos Wealth Management Inc. grew its holdings 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. Allworth Financial LP boosted its holdings in Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Regal Rexnord in the 3rd quarter worth $28,000. SJS Investment Consulting Inc. grew its stake in shares of Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after acquiring an additional 97 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Regal Rexnord by 42.5% in the third quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock valued at $38,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In related news, EVP Cheryl Lewis sold 2,262 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the sale, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Rehard sold 7,704 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $216.72, for a total value of $1,669,610.88. Following the sale, the chief financial officer directly owned 34,154 shares in the company, valued at $7,401,854.88. This trade represents a 18.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 51,194 shares of company stock worth $10,883,211. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a report on Friday, February 6th. Barclays boosted their target price on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, KeyCorp upped their price objective on Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.50.

Regal Rexnord Trading Up 1.2%

Shares of Regal Rexnord stock opened at $218.02 on Tuesday. The stock has a market capitalization of $14.47 billion, a P/E ratio of 51.91, a P/E/G ratio of 2.00 and a beta of 1.13. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $229.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. The stock’s 50-day simple moving average is $169.10 and its 200 day simple moving average is $152.53.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company earned $2.34 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

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

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.