Night Squared LP Acquires Shares of 18,702 Regal Rexnord Corporation $RRX

Night Squared LP bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 18,702 shares of the company’s stock, valued at approximately $2,683,000.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Regal Rexnord by 208.1% during the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after acquiring an additional 11,987 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Savant Capital LLC bought a new stake in Regal Rexnord during the second quarter valued at $322,000. Finally, ProShare Advisors LLC increased its stake in Regal Rexnord by 4.3% during the second quarter. ProShare Advisors LLC now owns 2,942 shares of the company’s stock valued at $426,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insiders Place Their Bets

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of Regal Rexnord stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total transaction of $810,000.00. Following the sale, the director owned 15,617 shares of the company’s stock, valued at $2,811,060. The trade was a 22.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Rehard sold 7,704 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer owned 34,154 shares of the company’s stock, valued at $7,401,854.88. This trade represents a 18.41% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 53,451 shares of company stock valued at $11,386,689. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Stock Down 0.6%

RRX stock opened at $186.47 on Friday. The stock has a market cap of $12.40 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. The firm’s 50-day simple moving average is $186.85 and its 200 day simple moving average is $158.26. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $229.30. 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 posted its earnings results 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. 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 analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $2.34 EPS. Regal Rexnord’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Regal Rexnord’s payout ratio is currently 33.33%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RRX shares. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price objective for the company from $170.00 to $160.00 in a research report on Wednesday, December 10th. Robert W. Baird set a $253.00 target price on shares of Regal Rexnord in a report on Friday, February 6th. The Goldman Sachs Group increased their price target on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Citigroup raised their price target on 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.50.

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.