AlphaQuest LLC Takes $281,000 Position in Regal Rexnord Corporation $RRX

Key Points

• AlphaQuest LLC has invested approximately $281,000 in Regal Rexnord Corporation by acquiring 2,466 shares in the first quarter, indicating growing interest from institutional investors.
• A recent research report from Wall Street Zen upgraded Regal Rexnord's stock rating from "buy" to "strong-buy", with multiple analysts increasing target prices, reflecting positive sentiment in the market.
• The company's quarterly earnings report showed an EPS of $2.48, exceeding expectations, although revenue decreased by 3.3% year-over-year, which may influence investor confidence.

AlphaQuest LLC purchased a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,466 shares of the company's stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RRX. Ameriprise Financial Inc. increased its stake in shares of Regal Rexnord by 0.3% during the 1st quarter. Ameriprise Financial Inc. now owns 347,216 shares of the company's stock worth $39,533,000 after purchasing an additional 1,187 shares during the last quarter. Channing Capital Management LLC raised its position in Regal Rexnord by 3.6% during the first quarter. Channing Capital Management LLC now owns 70,918 shares of the company's stock valued at $8,074,000 after purchasing an additional 2,496 shares in the last quarter. Candriam S.C.A. boosted its position in Regal Rexnord by 33.0% in the first quarter. Candriam S.C.A. now owns 30,336 shares of the company's stock valued at $3,454,000 after buying an additional 7,531 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Regal Rexnord by 77.1% in the first quarter. Hsbc Holdings PLC now owns 9,543 shares of the company's stock valued at $1,081,000 after buying an additional 4,153 shares during the period. Finally, Roubaix Capital LLC grew its position in shares of Regal Rexnord by 2.2% in the 1st quarter. Roubaix Capital LLC now owns 32,034 shares of the company's stock valued at $3,647,000 after buying an additional 689 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of NYSE:RRX traded down $3.64 during mid-day trading on Wednesday, reaching $142.51. The stock had a trading volume of 153,776 shares, compared to its average volume of 754,195. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a market cap of $9.46 billion, a P/E ratio of 38.01, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. The business's 50 day moving average price is $149.16 and its 200 day moving average price is $132.62. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.06. The firm had revenue of $1.50 billion during 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 revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is currently 37.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RRX shares. Barclays boosted their target price on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Robert W. Baird increased their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Regal Rexnord currently has an average rating of "Buy" and an average target price of $185.25.

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.