Charles Schwab Investment Management Inc. Acquires 10,034 Shares of 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. raised its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,186 shares of the company's stock after purchasing an additional 10,034 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.67% of Regal Rexnord worth $50,343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RRX. Kovitz Investment Group Partners LLC lifted its stake in shares of Regal Rexnord by 3.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock worth $370,000 after acquiring an additional 87 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Regal Rexnord by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock worth $1,543,000 after purchasing an additional 100 shares during the last quarter. Cetera Investment Advisers raised its holdings in Regal Rexnord by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock worth $332,000 after purchasing an additional 102 shares during the last quarter. Greenleaf Trust lifted its position in shares of Regal Rexnord by 2.1% in the 1st quarter. Greenleaf Trust now owns 5,187 shares of the company's stock worth $591,000 after purchasing an additional 105 shares during the period. Finally, Xponance Inc. lifted its position in shares of Regal Rexnord by 1.5% in the 1st quarter. Xponance Inc. now owns 7,866 shares of the company's stock worth $896,000 after purchasing an additional 120 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 2.1%

RRX traded down $3.1550 during midday trading on Wednesday, hitting $145.3150. The company had a trading volume of 303,850 shares, compared to its average volume of 762,580. The stock's 50 day moving average price is $147.43 and its 200 day moving average price is $132.14. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 1.48 and a beta of 1.18. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $2.29 EPS. The firm's revenue for the quarter 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. On average, research analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Regal Rexnord's payout ratio is currently 37.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RRX shares. Barclays increased their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Robert W. Baird upped 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. Finally, KeyCorp set a $180.00 target price on Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price 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.