Fox Run Management L.L.C. Buys Shares of 6,511 Regal Rexnord Corporation $RRX

Key Points

• Fox Run Management L.L.C. has invested approximately $741,000 in Regal Rexnord Corporation, acquiring 6,511 shares of the company.
• Analysts have recently adjusted their price targets for Regal Rexnord, with Goldman Sachs raising theirs from $173.00 to $195.00 while maintaining a "buy" rating.
• Regal Rexnord declared a quarterly dividend of $0.35 per share, with an upcoming payment date of October 14th, representing an annual yield of 1.0%.

Fox Run Management L.L.C. bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,511 shares of the company's stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. grew its holdings in Regal Rexnord by 6.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock worth $351,070,000 after acquiring an additional 175,273 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Regal Rexnord by 4.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company's stock worth $328,158,000 after acquiring an additional 115,564 shares during the period. Victory Capital Management Inc. grew its holdings in Regal Rexnord by 11.9% during the first quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock worth $277,435,000 after acquiring an additional 259,885 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Regal Rexnord by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock worth $206,729,000 after acquiring an additional 42,704 shares during the period. Finally, Nuveen LLC acquired a new stake in Regal Rexnord in the first quarter valued at approximately $117,996,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 1.2%

Regal Rexnord stock traded up $1.8130 during trading on Tuesday, reaching $148.4730. 575,260 shares of the company were exchanged, compared to its average volume of 1,022,966. 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 $9.85 billion, a P/E ratio of 39.49, a PEG ratio of 1.48 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. The stock's 50 day simple moving average is $147.43 and its two-hundred day simple moving average is $132.14.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 EPS 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 the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $2.29 earnings per share. The firm's 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. On average, equities research analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Regal Rexnord's dividend payout ratio (DPR) is presently 37.23%.

Analyst Upgrades and Downgrades

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