Northern Trust Corp Sells 4,949 Shares of Regal Rexnord Corporation $RRX

Key Points

• Northern Trust Corp reduced its stake in Regal Rexnord Corporation by 0.9%, holding approximately 569,752 shares worth $64.87 million as of its latest SEC filing.
• Regal Rexnord recently reported earnings per share of $2.48, exceeding the consensus estimate, while its revenue for the quarter was $1.50 billion.
• The company announced a quarterly dividend of $0.35 per share, leading to an annualized dividend of $1.40 and a yield of 0.9%.

Northern Trust Corp reduced its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,752 shares of the company's stock after selling 4,949 shares during the quarter. Northern Trust Corp owned 0.86% of Regal Rexnord worth $64,866,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Regal Rexnord in the 4th quarter valued at $31,000. Golden State Wealth Management LLC increased its stake in Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after buying an additional 138 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the 1st quarter valued at $81,000. Signaturefd LLC increased its stake in Regal Rexnord by 25.5% in the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock valued at $104,000 after buying an additional 185 shares during the last quarter. Finally, CWM LLC increased its stake in Regal Rexnord by 18.1% in the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock valued at $115,000 after buying an additional 155 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

NYSE RRX traded up $0.14 during trading on Thursday, reaching $152.86. The company's stock had a trading volume of 560,575 shares, compared to its average volume of 941,952. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The firm has a 50 day moving average price of $148.80 and a 200 day moving average price of $132.42.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, equities analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm 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. 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 0.9%. Regal Rexnord's payout ratio is currently 37.23%.

Analyst Ratings Changes

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

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.