3,183 Shares in Regal Rexnord Corporation $RRX Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 3,183 shares of Regal Rexnord Corporation, valued at approximately $362,000, during the first quarter of the year.
• Regal Rexnord recently reported $2.48 earnings per share, surpassing the consensus estimate of $2.42, though revenue for the quarter decreased by 3.3% year-over-year.
• The company declared a quarterly dividend of $0.35 per share, with an annualized dividend yield of 1.0%, to be paid out on October 14th.

SCS Capital Management LLC purchased a new position in Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,183 shares of the company's stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRX. Diamond Hill Capital Management Inc. increased its holdings in shares of Regal Rexnord by 6.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock valued at $351,070,000 after acquiring an additional 175,273 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Regal Rexnord by 4.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company's stock worth $328,158,000 after buying an additional 115,564 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock worth $277,435,000 after buying an additional 259,885 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Regal Rexnord by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock worth $194,955,000 after buying an additional 396,737 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Regal Rexnord by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock worth $206,729,000 after buying an additional 42,704 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of recent research reports. Citigroup restated a "buy" rating and issued a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Saturday. The Goldman Sachs Group dropped their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a "buy" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a research note on Monday. They set an "overweight" rating and a $200.00 price objective for the company. Finally, Barclays dropped their price objective on shares of Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating for the company in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $183.67.

Regal Rexnord Stock Up 0.9%

Shares of Regal Rexnord stock traded up $1.29 on Wednesday, hitting $142.57. 178,919 shares of the company's stock traded hands, compared to its average volume of 757,321. The stock has a market cap of $9.46 billion, a P/E ratio of 37.91, a PEG ratio of 1.42 and a beta of 1.18. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The firm's 50-day moving average is $148.05 and its 200 day moving average is $133.23. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business's revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Equities analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord's dividend payout ratio (DPR) is 37.23%.

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.