Kennedy Capital Management LLC Cuts Stock Position in Regal Rexnord Co. (NYSE:RRX)

Kennedy Capital Management LLC lessened its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 18.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,065 shares of the company's stock after selling 16,254 shares during the period. Kennedy Capital Management LLC owned 0.11% of Regal Rexnord worth $11,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Regal Rexnord during the 4th quarter valued at about $235,188,000. Victory Capital Management Inc. grew its holdings in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after buying an additional 363,728 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Regal Rexnord by 56.8% in the 4th quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after purchasing an additional 247,673 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Regal Rexnord by 35.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after purchasing an additional 232,509 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Regal Rexnord during the 4th quarter valued at about $22,325,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 2.3 %

Shares of Regal Rexnord stock traded down $2.23 during trading on Wednesday, reaching $96.73. 275,284 shares of the company were exchanged, compared to its average volume of 716,140. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $120.47 and a 200-day moving average price of $149.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is currently 47.46%.

Analyst Ratings Changes

Several brokerages have issued reports on RRX. Citigroup dropped their price objective on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday. The Goldman Sachs Group cut their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays decreased their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.