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 stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,183 shares of the company's stock, valued at approximately $362,000.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC raised its position in Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Jones Financial Companies Lllp raised its position in Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company's stock valued at $70,000 after purchasing an additional 295 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Regal Rexnord in the 1st quarter valued at $81,000. Finally, Signaturefd LLC raised its position in Regal Rexnord by 25.5% in the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock valued at $104,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Analysts Set New Price Targets

RRX has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Citigroup restated a "buy" rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Regal Rexnord in a research report on Monday. They set an "overweight" rating and a $200.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of "Buy" and an average target price of $186.89.

Regal Rexnord Trading Up 1.5%

Shares of Regal Rexnord stock traded up $2.04 during trading hours on Monday, hitting $140.90. The company's stock had a trading volume of 843,754 shares, compared to its average volume of 761,025. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The business has a fifty day moving average of $148.38 and a 200 day moving average of $133.10. The company has a market capitalization of $9.35 billion, a PE ratio of 37.47, a P/E/G ratio of 1.40 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.

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

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord's dividend payout ratio (DPR) is currently 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.