Regal Rexnord Corporation $RRX Shares Acquired by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC increased its stake in Regal Rexnord Corporation by 47.1% in the first quarter, acquiring an additional 17,590 shares for a total of 54,926 shares, valued at approximately $6.25 million.
• Regal Rexnord has received multiple upgrade ratings from analysts, with target prices ranging from $165.00 to $195.00, and currently holds an average rating of "Buy" with a consensus target price of $185.25.
• The company recently declared a quarterly dividend of $0.35, resulting in an annualized dividend of $1.40 and a yield of 0.9%, with the payout scheduled for October 14th.

MetLife Investment Management LLC boosted its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 47.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,926 shares of the company's stock after purchasing an additional 17,590 shares during the period. MetLife Investment Management LLC owned approximately 0.08% of Regal Rexnord worth $6,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RRX. Nuveen LLC bought a new stake in Regal Rexnord in the first quarter worth about $117,996,000. Invesco Ltd. lifted its stake in Regal Rexnord by 76.3% in the first quarter. Invesco Ltd. now owns 932,829 shares of the company's stock worth $106,203,000 after purchasing an additional 403,845 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Regal Rexnord by 79.8% in the fourth 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. Dimensional Fund Advisors LP lifted its stake in Regal Rexnord by 30.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock worth $194,955,000 after purchasing an additional 396,737 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Regal Rexnord by 425.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 400,050 shares of the company's stock worth $62,060,000 after purchasing an additional 323,904 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Down 2.5%

RRX stock traded down $3.81 during trading on Friday, hitting $149.10. 621,472 shares of the company's stock traded hands, compared to its average volume of 893,143. The firm has a market capitalization of $9.90 billion, a P/E ratio of 15.78, a PEG ratio of 1.50 and a beta of 1.18. The business has a fifty day simple moving average of $148.99 and a two-hundred day simple moving average of $132.44. 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 released its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. 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 declared 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's payout ratio is currently 37.23%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Citigroup reaffirmed a "buy" rating and set a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Robert W. Baird raised their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $185.25.

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.