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

Other large investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC raised its stake in shares of Regal Rexnord by 3.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after acquiring an additional 87 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Regal Rexnord by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock valued at $1,543,000 after acquiring an additional 100 shares during the period. Cetera Investment Advisers raised its stake in shares of Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock valued at $332,000 after acquiring an additional 102 shares during the period. Greenleaf Trust raised its stake in shares of Regal Rexnord by 2.1% in the 1st quarter. Greenleaf Trust now owns 5,187 shares of the company's stock valued at $591,000 after acquiring an additional 105 shares during the period. Finally, Xponance Inc. raised its stake in shares of Regal Rexnord by 1.5% in the 1st quarter. Xponance Inc. now owns 7,866 shares of the company's stock valued at $896,000 after acquiring an additional 120 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RRX shares. KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Barclays lifted their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Robert W. Baird lifted their price target 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. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Regal Rexnord currently has a consensus rating of "Buy" and an average target price of $185.25.

Regal Rexnord Trading Down 2.0%

Shares of NYSE:RRX traded down $2.9250 during mid-day trading on Wednesday, hitting $145.5450. The stock had a trading volume of 339,425 shares, compared to its average volume of 762,795. The company has a market cap of $9.66 billion, a PE ratio of 38.71, a P/E/G ratio of 1.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The company's 50 day moving average is $147.43 and its 200-day moving average is $132.14. 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 released its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $2.29 EPS. The company's revenue for the quarter 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, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared 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 is Tuesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Regal Rexnord's dividend payout ratio is 37.23%.

Regal Rexnord Company 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.