Regal Rexnord Corporation $RRX Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Regal Rexnord Corporation by 3.8%, now holding 439,403 shares valued at approximately $50 million.
• Regal Rexnord announced a quarterly dividend of $0.35 per share, representing a 1.0% yield and a payout ratio of 37.23%.
• Analysts maintain a consensus "Buy" rating on Regal Rexnord, with the average target price increased to $185.25 following positive earnings reports.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,403 shares of the company's stock after selling 17,138 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.66% of Regal Rexnord worth $50,028,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RRX. Balyasny Asset Management L.P. lifted its holdings in shares of Regal Rexnord by 3,462.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 85,102 shares of the company's stock valued at $13,202,000 after buying an additional 82,713 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Regal Rexnord by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 2,818 shares of the company's stock valued at $437,000 after buying an additional 187 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Regal Rexnord by 1,869.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 97,912 shares of the company's stock valued at $15,189,000 after buying an additional 92,940 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $7,601,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $1,427,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RRX. Wall Street Zen cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Friday. Barclays raised their price target on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Citigroup restated a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group raised their price target on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $185.25.

Regal Rexnord Price Performance

Shares of NYSE RRX traded down $1.80 during trading on Monday, reaching $143.77. The company had a trading volume of 624,139 shares, compared to its average volume of 727,780. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The stock has a market capitalization of $9.54 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The stock has a 50-day moving average price of $149.08 and a two-hundred day moving average price of $132.84. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

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 for the quarter, topping analysts' consensus estimates of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.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 firm posted $2.29 earnings per share. The business'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. As a group, sell-side analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

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