Regal Rexnord Corporation $RRX Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its holdings in Regal Rexnord Corporation by 2.0%, owning approximately 0.67% of the company, worth about $50.4 million as of the end of the last quarter.
• Regal Rexnord received multiple analyst upgrades, with Citi and Barclays increasing their price targets to $165.00, while Goldman Sachs raised theirs to $195.00, reflecting strong bullish sentiment.
• The company declared a quarterly dividend of $0.35 per share, which will be paid on October 14, representing an annual yield of 0.9%.

American Century Companies Inc. raised its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 442,718 shares of the company's stock after purchasing an additional 8,588 shares during the period. American Century Companies Inc. owned 0.67% of Regal Rexnord worth $50,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new position in shares of Regal Rexnord during the 1st quarter worth approximately $117,996,000. Invesco Ltd. raised its holdings in shares of Regal Rexnord by 76.3% in the first quarter. Invesco Ltd. now owns 932,829 shares of the company's stock worth $106,203,000 after acquiring an additional 403,845 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Regal Rexnord by 79.8% in the fourth quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after acquiring an additional 399,267 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Regal Rexnord by 30.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock valued at $194,955,000 after acquiring an additional 396,737 shares during the last quarter. Finally, Cartenna Capital LP acquired a new stake in shares of Regal Rexnord during the fourth quarter valued at $55,900,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RRX has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Sunday. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Citigroup reissued a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of "Buy" and an average price target of $185.25.

Regal Rexnord Trading Down 0.9%

Shares of RRX traded down $1.3120 during trading hours on Monday, hitting $152.9280. The stock had a trading volume of 432,600 shares, compared to its average volume of 1,068,089. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The firm has a market cap of $10.15 billion, a P/E ratio of 40.67, a P/E/G ratio of 1.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The company's fifty day simple moving average is $148.04 and its 200 day simple moving average is $132.03.

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

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's payout ratio is 37.23%.

Regal Rexnord 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.