Oak Ridge Investments LLC Has $428,000 Stock Holdings in Regal Rexnord Corporation $RRX

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 holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord during the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its stake in Regal Rexnord by 106.2% in the first 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 bought a new stake in Regal Rexnord in the first quarter valued at $81,000. Signaturefd LLC lifted its stake in Regal Rexnord by 25.5% in the first 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 lifted its stake in Regal Rexnord by 18.1% in the first 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 currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Up 1.3%

Shares of Regal Rexnord stock traded up $1.8680 during trading on Tuesday, hitting $148.5280. 280,974 shares of the stock traded hands, compared to its average volume of 763,628. The company has a fifty day moving average price of $147.34 and a two-hundred day moving average price of $132.02. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The stock has a market cap of $9.86 billion, a P/E ratio of 39.51, a PEG ratio of 1.47 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $2.29 EPS. The company'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. Equities research analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is presently 37.23%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RRX shares. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Citigroup restated a "buy" rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Barclays lifted their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Robert W. Baird lifted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $185.25.

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.