LPL Financial LLC Has $3.22 Million Stock Holdings in Regal Rexnord Corporation $RRX

Key Points

• LPL Financial LLC has reduced its stake in Regal Rexnord Corporation by 11.5%, now holding 28,321 shares valued at $3,224,000.
• Analysts remain optimistic about Regal Rexnord, with several firms setting price targets between $165.00 and $195.00, and a consensus rating of "Buy."
• The company plans to pay a quarterly dividend of $0.35 on October 14th, representing a 1.0% dividend yield with a payout ratio of 37.23%.

LPL Financial LLC lessened its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,321 shares of the company's stock after selling 3,686 shares during the quarter. LPL Financial LLC's holdings in Regal Rexnord were worth $3,224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RRX. Raymond James Financial Inc. acquired a new stake in Regal Rexnord in the 4th quarter valued at approximately $22,325,000. Marshall Wace LLP acquired a new stake in Regal Rexnord in the 4th quarter valued at approximately $4,801,000. Capital International Sarl raised its position in Regal Rexnord by 6.1% in the 4th quarter. Capital International Sarl now owns 29,682 shares of the company's stock valued at $4,605,000 after buying an additional 1,707 shares during the last quarter. Capital International Ltd. CA raised its position in Regal Rexnord by 6.8% in the 4th quarter. Capital International Ltd. CA now owns 21,310 shares of the company's stock valued at $3,306,000 after buying an additional 1,364 shares during the last quarter. Finally, Forum Financial Management LP raised its position in Regal Rexnord by 9.0% in the 4th quarter. Forum Financial Management LP now owns 1,977 shares of the company's stock valued at $307,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of RRX stock traded down $1.0470 during trading on Thursday, reaching $143.8230. 848,380 shares of the company's stock were exchanged, compared to its average volume of 1,030,642. 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 stock has a market capitalization of $9.55 billion, a PE ratio of 38.25, a PEG ratio of 1.46 and a beta of 1.18. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The firm's fifty day moving average price is $147.50 and its 200-day moving average price is $132.17.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.06. The business had revenue of $1.50 billion for 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 firm's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders 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 yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is currently 37.23%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RRX shares. Wall Street Zen lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Citigroup reaffirmed a "buy" rating and set a $165.00 price target (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 stock an "overweight" rating in a research report on Thursday, June 26th. The Goldman Sachs Group boosted their price target on Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Barclays boosted their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. 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 a consensus 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.