Regal Rexnord Corporation $RRX Shares Sold by Northern Trust Corp

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 position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 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 period. Northern Trust Corp owned about 0.86% of Regal Rexnord worth $64,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Kovitz Investment Group Partners LLC raised its position in shares of Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after acquiring an additional 87 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Regal Rexnord by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock valued at $1,543,000 after acquiring an additional 100 shares in the last quarter. Cetera Investment Advisers boosted its position in Regal Rexnord by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock valued at $332,000 after purchasing an additional 102 shares during the period. Greenleaf Trust boosted its position in Regal Rexnord by 2.1% during the 1st quarter. Greenleaf Trust now owns 5,187 shares of the company's stock valued at $591,000 after purchasing an additional 105 shares during the period. Finally, Xponance Inc. boosted its position in Regal Rexnord by 1.5% during the 1st quarter. Xponance Inc. now owns 7,866 shares of the company's stock valued at $896,000 after purchasing an additional 120 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRX has been the subject of a number of analyst reports. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Citigroup restated a "buy" rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Barclays boosted their price objective on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group boosted their price objective 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 analysts have rated the stock with a Buy rating, According to data from MarketBeat, Regal Rexnord has a consensus rating of "Buy" and an average price target of $185.25.

Regal Rexnord Stock Performance

Regal Rexnord stock traded down $3.81 during mid-day 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 50 day moving average price of $148.99 and a 200 day moving average price 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. The company has a market cap of $9.90 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.06. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, equities analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend 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.