Cooperman Leon G Buys 190,365 Shares of Regal Rexnord Corporation $RRX

Key Points

• Cooperman Leon G increased its stake in Regal Rexnord Corporation by 35.6% during the first quarter, making it the company's 14th largest position with approximately $82.6 million in value.
• Recent analyst reports upgraded Regal Rexnord's rating to "strong-buy" and set an average price target of $185.25, reflecting strong confidence in the company's future performance.
• Regal Rexnord announced a quarterly dividend of $0.35 per share, representing a 0.9% yield, with an ex-dividend date set for September 30th.

Cooperman Leon G grew its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 35.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 725,766 shares of the company's stock after acquiring an additional 190,365 shares during the quarter. Regal Rexnord comprises about 3.3% of Cooperman Leon G's portfolio, making the stock its 14th biggest holding. Cooperman Leon G owned approximately 1.09% of Regal Rexnord worth $82,628,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at about $1,427,000. Avantax Advisory Services Inc. grew its stake in Regal Rexnord by 19.7% during the first quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company's stock worth $359,000 after purchasing an additional 519 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in Regal Rexnord during the fourth quarter worth approximately $9,463,000. Polianta Ltd grew its stake in Regal Rexnord by 33.8% during the first quarter. Polianta Ltd now owns 9,100 shares of the company's stock worth $1,036,000 after purchasing an additional 2,300 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Regal Rexnord by 22.5% during the first quarter. Ritholtz Wealth Management now owns 1,979 shares of the company's stock worth $225,000 after purchasing an additional 363 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

Regal Rexnord stock traded down $1.89 during mid-day trading on Friday, reaching $145.41. 1,086,782 shares of the company's stock were exchanged, compared to its average volume of 718,433. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business's fifty day simple moving average is $149.11 and its 200 day simple moving average is $132.82. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The firm has a market capitalization of $9.65 billion, a PE ratio of 38.67, a P/E/G ratio of 1.48 and a beta of 1.18.

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. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $2.29 earnings per share. The business'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. On average, sell-side analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's payout ratio is presently 37.23%.

Analyst Ratings Changes

RRX has been the subject of several recent analyst reports. Wall Street Zen cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Friday. Citigroup reiterated a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays increased their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, The Goldman Sachs Group raised their target price on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Regal Rexnord currently has an average rating of "Buy" and a consensus target price of $185.25.

About Regal Rexnord

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.