Regal Rexnord Corporation $RRX Shares Purchased by Channing Capital Management LLC

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 lifted its position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,918 shares of the company's stock after purchasing an additional 2,496 shares during the quarter. Channing Capital Management LLC owned 0.11% of Regal Rexnord worth $8,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord in the 4th quarter valued at $31,000. Golden State Wealth Management LLC raised its holdings in shares of Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after acquiring an additional 138 shares during the period. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the 1st quarter worth $81,000. Signaturefd LLC raised its holdings in Regal Rexnord by 25.5% in the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock valued at $104,000 after buying an additional 185 shares during the period. Finally, CWM LLC raised its holdings in Regal Rexnord by 18.1% in the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock valued at $115,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

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

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded down $1.05 during trading hours on Tuesday, hitting $151.95. 112,686 shares of the company were exchanged, compared to its average volume of 761,145. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average of $148.04 and a 200-day moving average of $132.03. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 1.55 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.73% and a net margin of 4.28%.The firm 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 company posted $2.29 earnings per share. Regal Rexnord's quarterly revenue was down 3.3% on a year-over-year basis. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued 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 dividend payout ratio is currently 37.23%.

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.