Raymond James Financial Inc. Purchases 13,946 Shares of Regal Rexnord Corporation $RRX

Key Points

• Raymond James Financial Inc. increased its stake in Regal Rexnord Corporation by 9.7%, owning a total of 157,854 shares worth approximately $17.97 million after acquiring an additional 13,946 shares in the first quarter.
• Regal Rexnord has announced a quarterly dividend of $0.35 per share, with a dividend yield of 0.9%, to be paid on October 14th.
• Analysts have revised their price targets for Regal Rexnord, with the consensus rating set at "Buy" and an average price target of $185.25.

Raymond James Financial Inc. increased its position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,854 shares of the company's stock after purchasing an additional 13,946 shares during the period. Raymond James Financial Inc. owned about 0.24% of Regal Rexnord worth $17,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RRX. Hsbc Holdings PLC increased its position in shares of Regal Rexnord by 114.1% during the fourth quarter. Hsbc Holdings PLC now owns 5,390 shares of the company's stock valued at $835,000 after purchasing an additional 2,873 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Regal Rexnord by 8.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,477 shares of the company's stock valued at $7,210,000 after purchasing an additional 3,620 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $1,551,000. Kovitz Investment Group Partners LLC increased its position in shares of Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock valued at $370,000 after purchasing an additional 87 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $211,000. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Price Performance

Shares of RRX stock opened at $152.93 on Thursday. The stock's fifty day moving average is $148.54 and its 200-day moving average is $132.31. 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 capitalization of $10.15 billion, a PE ratio of 40.67, a PEG ratio of 1.52 and a beta of 1.18. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $2.42 by $0.06. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Equities research analysts expect 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

RRX has been the topic of a number of analyst reports. Robert W. Baird upped their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays upped 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 reiterated a "buy" rating and issued a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average 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.

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