Charles Schwab Investment Management Inc. Increases Stake in Regal Rexnord Corporation $RRX

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Regal Rexnord Corporation by 2.3%, holding 442,186 shares worth approximately $50.34 million at the end of the recent quarter.
• Analysts have a positive outlook on Regal Rexnord, with a consensus rating of "Buy" and a price target averaging $185.25, following upgrades from several major firms.
• Regal Rexnord declared a quarterly dividend of $0.35, resulting in an annualized yield of 1.0%, set to be paid on October 14th to shareholders recorded by September 30th.

Charles Schwab Investment Management Inc. increased its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,186 shares of the company's stock after buying an additional 10,034 shares during the period. Charles Schwab Investment Management Inc. owned about 0.67% of Regal Rexnord worth $50,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its holdings in Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares in the last quarter. Signaturefd LLC lifted 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 purchasing an additional 185 shares in the last quarter. CWM LLC lifted 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 purchasing an additional 155 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Regal Rexnord by 12.5% in the 1st quarter. US Bancorp DE now owns 1,828 shares of the company's stock valued at $208,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Down 0.7%

Shares of NYSE:RRX traded down $1.0470 during midday trading on Thursday, reaching $143.8230. 848,380 shares of the company's stock were exchanged, compared to its average volume of 1,030,642. The firm's 50 day simple moving average is $147.50 and its two-hundred day simple moving average is $132.17. 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 stock has a market cap of $9.55 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 1.46 and a beta of 1.18. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

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

Regal Rexnord Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, September 30th. Regal Rexnord's payout ratio is currently 37.23%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays raised their price objective on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wall Street Zen lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup restated a "buy" rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Finally, KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an "overweight" rating in a report on Thursday, June 26th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $185.25.

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.