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 trimmed its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RRX. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the 4th quarter worth about $31,000. Golden State Wealth Management LLC raised its position in shares of Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after buying an additional 138 shares in the last quarter. Signaturefd LLC raised its position in shares of Regal Rexnord by 25.5% during the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after buying an additional 185 shares in the last quarter. CWM LLC raised its position in shares of Regal Rexnord by 18.1% during the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock worth $115,000 after buying an additional 155 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Regal Rexnord during the 4th quarter worth about $211,000. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of recent analyst reports. KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Citigroup restated a "buy" rating and set a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. The Goldman Sachs Group lifted their price objective 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. Barclays lifted their price objective 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. Finally, Robert W. Baird lifted their price objective 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $185.25.

Regal Rexnord Trading Down 2.4%

Shares of Regal Rexnord stock traded down $3.5520 during trading on Wednesday, hitting $144.9180. The stock had a trading volume of 286,866 shares, compared to its average volume of 762,416. The stock has a 50 day simple moving average of $147.43 and a 200 day simple moving average of $132.14. The company has a market capitalization of $9.62 billion, a PE ratio of 38.49, a P/E/G ratio of 1.48 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 Corporation has a 1 year low of $90.56 and a 1 year high of $185.28.

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, beating analysts' consensus estimates 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 the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm's revenue was down 3.3% on a year-over-year basis. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, research analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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 of this dividend is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. Regal Rexnord's payout ratio is presently 37.23%.

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.