Channing Capital Management LLC Has $8.07 Million Holdings in Regal Rexnord Corporation $RRX

Key Points

• Channing Capital Management LLC increased its stake in Regal Rexnord Corporation by 3.6%, owning 70,918 shares worth approximately $8,074,000 as of the end of the last quarter.
• Analysts have shown increased confidence in Regal Rexnord, with several firms raising their target prices, including Goldman Sachs's increase from $173 to $195 and Barclays's raise from $160 to $165.
• The company recently announced a quarterly dividend of $0.35 per share, yielding approximately 1.0%, with an expected payout on October 14th.

Channing Capital Management LLC increased its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,918 shares of the company's stock after purchasing an additional 2,496 shares during the quarter. Channing Capital Management LLC owned approximately 0.11% of Regal Rexnord worth $8,074,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new stake in shares of Regal Rexnord in the fourth quarter worth $1,427,000. Avantax Advisory Services Inc. boosted its position in Regal Rexnord by 19.7% during the first quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company's stock valued at $359,000 after acquiring an additional 519 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in Regal Rexnord during the fourth quarter valued at $9,463,000. Pinebridge Investments L.P. boosted its position in Regal Rexnord by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 19,024 shares of the company's stock valued at $2,951,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Polianta Ltd boosted its position in Regal Rexnord by 33.8% during the first quarter. Polianta Ltd now owns 9,100 shares of the company's stock valued at $1,036,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Up 7.1%

Shares of RRX stock traded up $10.1590 on Friday, reaching $153.8890. 935,677 shares of the company were exchanged, compared to its average volume of 1,043,541. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 1.55 and a beta of 1.18. The company has a 50-day moving average of $147.82 and a 200-day moving average of $132.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The firm's 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. Analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on RRX shares. KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Robert W. Baird upped their price target 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. Barclays upped their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $185.25.

About Regal Rexnord

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.