American Century Companies Inc. Boosts Stake in Regal Rexnord Corporation $RRX

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

Other institutional investors have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC bought a new stake in shares of Regal Rexnord during the 1st quarter valued at $25,678,000. Dimensional Fund Advisors LP boosted its stake in Regal Rexnord by 30.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock worth $194,955,000 after acquiring an additional 396,737 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Regal Rexnord in the first quarter worth about $741,000. Vestmark Advisory Solutions Inc. grew its holdings in Regal Rexnord by 46.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 4,265 shares of the company's stock worth $486,000 after purchasing an additional 1,359 shares during the period. Finally, Sit Investment Associates Inc. increased its stake in shares of Regal Rexnord by 21.6% during the first quarter. Sit Investment Associates Inc. now owns 12,053 shares of the company's stock valued at $1,372,000 after purchasing an additional 2,140 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Regal Rexnord stock traded up $10.1590 during midday trading on Friday, reaching $153.8890. 935,677 shares of the company traded hands, compared to its average volume of 1,043,541. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The business has a 50 day moving average of $147.82 and a two-hundred day moving average of $132.16. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 40.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.18.

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

Regal Rexnord Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RRX. Robert W. Baird upped their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Citigroup restated a "buy" rating and set a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays upped their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group raised 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. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target 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.