Amundi Decreases Stake in 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 cut its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 9.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its position in shares of Regal Rexnord by 0.7% in the first 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 during the period. Cetera Investment Advisers boosted its holdings in shares of Regal Rexnord by 3.6% during the first quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock worth $332,000 after purchasing an additional 102 shares during the period. Greenleaf Trust boosted its holdings in shares of Regal Rexnord by 2.1% during the first quarter. Greenleaf Trust now owns 5,187 shares of the company's stock worth $591,000 after purchasing an additional 105 shares during the period. Xponance Inc. boosted its holdings in shares of Regal Rexnord by 1.5% during the first quarter. Xponance Inc. now owns 7,866 shares of the company's stock worth $896,000 after purchasing an additional 120 shares during the period. Finally, Dynasty Wealth Management LLC boosted its holdings in shares of Regal Rexnord by 3.1% during the first quarter. Dynasty Wealth Management LLC now owns 4,265 shares of the company's stock worth $486,000 after purchasing an additional 128 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRX has been the subject of several research analyst reports. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Saturday. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Citigroup reaffirmed a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Barclays dropped their target price on shares of Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a "buy" rating for the company in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $183.67.

Regal Rexnord Stock Down 0.8%

Shares of RRX traded down $1.14 during trading hours on Wednesday, hitting $140.14. The company had a trading volume of 771,259 shares, compared to its average volume of 684,360. The firm has a fifty day moving average price of $147.84 and a 200-day moving average price of $133.28. 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 capitalization of $9.30 billion, a price-to-earnings ratio of 37.27, a P/E/G ratio of 1.42 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) 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 analyst estimates of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.Regal Rexnord's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's payout ratio is presently 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.