Invesco Ltd. Increases Holdings in Regal Rexnord Corporation $RRX

Key Points

• Invesco Ltd. significantly increased its ownership in Regal Rexnord Corporation, purchasing an additional 403,845 shares, raising its stake by 76.3% to a total of 932,829 shares.
• The company reported a quarterly earnings per share (EPS) of $2.48, exceeding analysts' expectations, despite a revenue decrease of 3.3% compared to the same quarter last year.
• Regal Rexnord recently declared a quarterly dividend of $0.35 per share, with the annualized yield at 1.0% and a payout ratio of 37.23%.

Invesco Ltd. increased its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 76.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 932,829 shares of the company's stock after purchasing an additional 403,845 shares during the period. Invesco Ltd. owned 1.41% of Regal Rexnord worth $106,203,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Diamond Hill Capital Management Inc. raised its position in shares of Regal Rexnord by 6.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock worth $351,070,000 after purchasing an additional 175,273 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Regal Rexnord by 4.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company's stock worth $328,158,000 after purchasing an additional 115,564 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Regal Rexnord by 11.9% during the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock worth $277,435,000 after purchasing an additional 259,885 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Regal Rexnord by 3.3% during the 4th 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 purchasing an additional 42,704 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after purchasing an additional 399,267 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RRX has been the subject of several research reports. Robert W. Baird lifted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Barclays boosted 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. KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Citigroup reiterated a "buy" rating and issued a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Regal Rexnord presently has a consensus rating of "Buy" and an average target price of $185.25.

Regal Rexnord Trading Down 0.7%

Shares of NYSE RRX traded down $1.0470 during trading on Thursday, hitting $143.8230. 848,380 shares of the company traded hands, compared to its average volume of 1,030,642. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a 50-day moving average price of $147.50 and a 200-day moving average price of $132.17. The firm has a market capitalization of $9.55 billion, a P/E ratio of 38.25, a P/E/G ratio of 1.46 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 announced 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. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the previous year, the company earned $2.29 EPS. The business'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. On average, equities analysts predict that Regal Rexnord Corporation will post 9.95 EPS 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 dividend of $0.35 per share. The ex-dividend date of this dividend 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%.

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.