Dimensional Fund Advisors LP Acquires 396,737 Shares of Regal Rexnord Corporation $RRX

Key Points

• Dimensional Fund Advisors LP increased its stake in Regal Rexnord Corporation by 30.2%, acquiring an additional 396,737 shares, bringing its total ownership to approximately 2.58% valued at $194,955,000.
• Brokerages have set new target prices for Regal Rexnord, with Citigroup raising its target to $165.00 and Goldman Sachs increasing it to $195.00, reflecting a consensus rating of "Buy" across nine analysts.
• Regal Rexnord recently announced a quarterly dividend of $0.35, which will be paid on October 14th, with a projected annual yield of 1.0% and a payout ratio of 37.23%.

Dimensional Fund Advisors LP grew its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 30.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,712,297 shares of the company's stock after buying an additional 396,737 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.58% of Regal Rexnord worth $194,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kovitz Investment Group Partners LLC grew its position in shares of Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock worth $370,000 after purchasing an additional 87 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Regal Rexnord by 0.7% during the first 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 in the last quarter. Cetera Investment Advisers grew its position in shares of Regal Rexnord by 3.6% during the first quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock worth $332,000 after purchasing an additional 102 shares in the last quarter. Greenleaf Trust grew its position in shares of Regal Rexnord by 2.1% during the first quarter. Greenleaf Trust now owns 5,187 shares of the company's stock worth $591,000 after purchasing an additional 105 shares in the last quarter. Finally, Xponance Inc. grew its position in shares of Regal Rexnord by 1.5% during the first quarter. Xponance Inc. now owns 7,866 shares of the company's stock worth $896,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RRX. Citigroup reiterated a "buy" rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an "overweight" rating in a report on Thursday, June 26th. Robert W. Baird raised their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Barclays raised their price target on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Regal Rexnord has an average rating of "Buy" and an average price target of $185.25.

Regal Rexnord Trading Up 7.1%

Shares of NYSE:RRX traded up $10.1590 during trading on Friday, hitting $153.8890. The company had a trading volume of 935,677 shares, compared to its average volume of 1,068,089. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 40.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.18. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The company has a fifty day simple moving average of $147.82 and a two-hundred day simple moving average of $131.93. 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 (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, beating the consensus estimate of $2.42 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The company's revenue for the quarter 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, equities analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 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.