6,894 Regal Rexnord Corporation $RRX Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Regal Rexnord stake by 4.1%, selling 6,894 shares and retaining 159,820 shares valued at approximately $24.79 million. Institutional investors and hedge funds collectively own 99.72% of the stock.
• Regal Rexnord shares rose 0.9% to $161.34, while the company’s latest quarterly EPS of $2.99 exceeded analyst expectations of $2.58. Revenue reached $1.56 billion, up 4.2% year over year but below the $1.58 billion consensus estimate.
• The company announced a quarterly dividend of $0.35 per share, representing a 0.9% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $243.75.

Argent Capital Management LLC decreased its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,820 shares of the company's stock after selling 6,894 shares during the quarter. Argent Capital Management LLC owned approximately 0.24% of Regal Rexnord worth $24,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RRX. BlackRock Inc. bought a new position in Regal Rexnord during the 2nd quarter worth $1,477,356,000. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 42.6% in the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company's stock valued at $793,983,000 after buying an additional 1,690,264 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Regal Rexnord by 75.8% in the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company's stock valued at $615,496,000 after buying an additional 1,113,888 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Regal Rexnord in the second quarter valued at about $449,281,000. Finally, Franklin Resources Inc. raised its position in shares of Regal Rexnord by 32.4% during the fourth quarter. Franklin Resources Inc. now owns 1,100,204 shares of the company's stock worth $154,381,000 after acquiring an additional 269,008 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 0.9%

Shares of RRX stock traded up $1.48 during trading hours on Monday, hitting $161.34. 229,247 shares of the company were exchanged, compared to its average volume of 1,139,530. The firm has a market cap of $10.74 billion, a P/E ratio of 33.27, a P/E/G ratio of 1.27 and a beta of 1.09. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 2.28. The company has a 50 day simple moving average of $168.25 and a two-hundred day simple moving average of $193.23.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.41. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.58 billion. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. Regal Rexnord's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.48 EPS. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. Equities analysts anticipate that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord's dividend payout ratio is 28.87%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wolfe Research set a $250.00 price objective on Regal Rexnord in a research note on Thursday, July 9th. UBS Group set a $260.00 price target on shares of Regal Rexnord in a report on Monday, June 15th. The Goldman Sachs Group set a $216.00 price target on shares of Regal Rexnord in a research report on Wednesday, September 30th. KeyCorp reduced their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Finally, DA Davidson started coverage on shares of Regal Rexnord in a research note on Tuesday, June 16th. They set a "buy" rating and a $260.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $243.75.

Regal Rexnord Profile

Regal Rexnord Corporation is a global manufacturer of industrial power, motion control and automation products. The company supplies electric motors, generators, gearboxes, bearings, couplings, clutches, brakes and related power-transmission equipment used to move, control and manage energy in industrial and commercial applications.

Its product portfolio also includes automation and motion-control technologies, conveyor and material-handling systems, precision components, and solutions designed to improve the efficiency and reliability of machinery.

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