Regal Rexnord Corporation $RRX Shares Sold by Oak Ridge Investments LLC

Key Points

• Oak Ridge Investments LLC reduced its stake in Regal Rexnord Corporation by 43.1%, leaving it with 3,758 shares worth approximately $428,000.
• Regal Rexnord reported $2.48 earnings per share (EPS) for the last quarter, exceeding analyst estimates, while revenue was down 3.3% year-over-year.
• The firm announced a quarterly dividend of $0.35 per share, indicating a 0.9% yield and a payout ratio of 37.23%.

Oak Ridge Investments LLC reduced its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,758 shares of the company's stock after selling 2,850 shares during the quarter. Oak Ridge Investments LLC's holdings in Regal Rexnord were worth $428,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. boosted its position in shares of Regal Rexnord by 6.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock valued at $351,070,000 after acquiring an additional 175,273 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Regal Rexnord by 4.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company's stock worth $328,158,000 after purchasing an additional 115,564 shares during the period. Victory Capital Management Inc. boosted its holdings in Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock valued at $277,435,000 after purchasing an additional 259,885 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Regal Rexnord by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock valued at $206,729,000 after purchasing an additional 42,704 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Regal Rexnord in the 1st quarter valued at approximately $117,996,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Down 2.3%

Shares of RRX stock traded down $3.4440 during trading on Wednesday, reaching $145.0260. The company's stock had a trading volume of 789,789 shares, compared to its average volume of 1,022,337. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The stock's 50-day moving average price is $147.45 and its 200 day moving average price is $132.22. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.06. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's payout ratio is presently 37.23%.

Analysts Set New Price Targets

RRX has been the topic of a number of research analyst reports. KeyCorp set a $180.00 target price on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Barclays boosted their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wall Street Zen lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Citigroup restated a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Regal Rexnord has an average rating of "Buy" and an average target price 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.