Corebridge Financial Inc. Decreases Stock Holdings in Regal Rexnord Corporation $RRX

Key Points

• Corebridge Financial Inc. has reduced its stake in Regal Rexnord Corporation by 2.4%, selling 1,786 shares and now owning 73,153 shares worth approximately $8.3 million.
• Analysts have expressed a positive outlook on Regal Rexnord, with target price increases from major firms such as Goldman Sachs raising it to $195.00, resulting in a consensus "Buy" rating.
• The company declared a quarterly dividend of $0.35 per share, which translates to an annual yield of 0.9% and reflects a payout ratio of 37.23%.

Corebridge Financial Inc. trimmed its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,153 shares of the company's stock after selling 1,786 shares during the period. Corebridge Financial Inc. owned about 0.11% of Regal Rexnord worth $8,328,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the 4th quarter worth about $31,000. Golden State Wealth Management LLC raised its position in shares of 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 buying an additional 138 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord in the 1st quarter valued at approximately $81,000. Signaturefd LLC increased its position in Regal Rexnord by 25.5% during the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after purchasing an additional 185 shares in the last quarter. Finally, CWM LLC increased its position in Regal Rexnord by 18.1% during the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock worth $115,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RRX shares. Robert W. Baird increased their target price on shares of 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 raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. 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. Citigroup reaffirmed a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Finally, Barclays raised their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $185.25.

Regal Rexnord Stock Down 2.5%

Shares of RRX stock traded down $3.81 on Friday, hitting $149.10. The stock had a trading volume of 621,472 shares, compared to its average volume of 893,143. The business has a 50 day moving average of $148.99 and a 200 day moving average of $132.44. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. 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 12-month low of $90.56 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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. 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 the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $2.29 earnings per share. The firm'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, analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current 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 given 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 (DPR) is 37.23%.

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.