Amundi Sells 2,229 Shares of Regal Rexnord Corporation $RRX

Key Points

• Amundi reduced its stake in Regal Rexnord Corporation by 9.6%, owning 20,956 shares worth $2.386 million after selling 2,229 shares in the 1st quarter.
• Regal Rexnord reported an EPS of $2.48 for its latest quarter, exceeding analysts' expectations, but revenue was down 3.3% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.35, reflecting an annualized yield of 1.0%, with a payout ratio of 37.23%.

Amundi decreased its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,956 shares of the company's stock after selling 2,229 shares during the period. Amundi's holdings in Regal Rexnord were worth $2,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the fourth quarter worth $31,000. Golden State Wealth Management LLC boosted its stake in Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after buying an additional 138 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Regal Rexnord during the first quarter worth $81,000. Signaturefd LLC boosted its stake in Regal Rexnord by 25.5% during the first quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after buying an additional 185 shares in the last quarter. Finally, CWM LLC boosted its stake in Regal Rexnord by 18.1% during the first quarter. CWM LLC now owns 1,011 shares of the company's stock worth $115,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

RRX has been the topic of several recent analyst reports. Citigroup restated a "buy" rating and issued a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Barclays boosted their target price 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. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Saturday. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Regal Rexnord in a research note on Monday. They issued an "overweight" rating and a $200.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Regal Rexnord has an average rating of "Buy" and a consensus price target of $186.89.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock traded up $2.04 during trading on Monday, reaching $140.90. The company's stock had a trading volume of 843,754 shares, compared to its average volume of 761,014. The stock has a 50-day moving average price of $148.38 and a two-hundred day moving average price of $133.10. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The stock has a market capitalization of $9.35 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.50 billion during 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 company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company 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 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 currently 37.23%.

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.