Invenomic Capital Management LP Acquires Shares of 91,595 Regal Rexnord Corporation $RRX

Key Points

• Invenomic Capital Management LP has acquired 91,595 shares of Regal Rexnord Corporation, valued at approximately $10.4 million, increasing its ownership stake to 0.14% as of its latest SEC filing.
• Regal Rexnord reported earnings per share (EPS) of $2.48 for the last quarter, surpassing expectations, while also announcing a quarterly dividend of $0.35 per share, implying a 0.9% dividend yield.
• Multiple analysts have upgraded Regal Rexnord's stock rating to a strong-buy, with a consensus target price reaching $185.25, indicating strong potential for future growth.

Invenomic Capital Management LP purchased a new stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 91,595 shares of the company's stock, valued at approximately $10,428,000. Invenomic Capital Management LP owned approximately 0.14% of Regal Rexnord as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC increased its position in shares of Regal Rexnord by 106.2% during the first 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 during the period. Headlands Technologies LLC bought a new position in shares of Regal Rexnord in the first quarter worth approximately $81,000. Signaturefd LLC grew its holdings in shares of Regal Rexnord by 25.5% in the first quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after purchasing an additional 185 shares during the last quarter. Finally, CWM LLC lifted its position in Regal Rexnord by 18.1% during the first quarter. CWM LLC now owns 1,011 shares of the company's stock valued at $115,000 after buying an additional 155 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 3.7%

Shares of NYSE:RRX opened at $147.39 on Friday. The company's fifty day simple moving average is $149.13 and its 200 day simple moving average is $132.75. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 1.43 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results 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 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 firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS 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 $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 is presently 37.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RRX. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 24th. 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 reaffirmed a "buy" rating and set a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays increased their target price on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Finally, 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 research report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.