Alliancebernstein L.P. Boosts Stake in Regal Rexnord Corporation $RRX

Key Points

• Alliancebernstein L.P. has increased its stake in Regal Rexnord Corporation by 8.5%, now owning 808,590 shares valued at approximately $92 million.
• Multiple research firms project growth for Regal Rexnord, with Citigroup and Goldman Sachs recently raising their target prices to $165.00 and $195.00, respectively.
• The company announced a quarterly dividend of $0.35 per share, representing an annualized yield of 1.0%, to be paid on October 14th.

Alliancebernstein L.P. lifted its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 808,590 shares of the company's stock after acquiring an additional 63,335 shares during the period. Alliancebernstein L.P. owned 1.22% of Regal Rexnord worth $92,058,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RRX. Oregon Public Employees Retirement Fund raised its holdings 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 worth $1,543,000 after buying an additional 100 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Regal Rexnord by 3.6% in the first quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock worth $332,000 after buying an additional 102 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Regal Rexnord by 2.1% in the first quarter. Greenleaf Trust now owns 5,187 shares of the company's stock worth $591,000 after buying an additional 105 shares during the last quarter. Xponance Inc. raised its holdings in shares of Regal Rexnord by 1.5% in the first quarter. Xponance Inc. now owns 7,866 shares of the company's stock worth $896,000 after buying an additional 120 shares during the last quarter. Finally, Dynasty Wealth Management LLC raised its holdings in shares of Regal Rexnord by 3.1% in the first quarter. Dynasty Wealth Management LLC now owns 4,265 shares of the company's stock worth $486,000 after buying an additional 128 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

Regal Rexnord stock traded down $1.80 during mid-day trading on Monday, reaching $143.77. 624,139 shares of the company were exchanged, compared to its average volume of 727,780. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The firm has a market cap of $9.54 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The firm's 50-day simple moving average is $149.08 and its two-hundred day simple moving average is $132.84.

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 for the quarter, topping analysts' consensus estimates of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the company posted $2.29 EPS. 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. Equities analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share 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 paid a $0.35 dividend. 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 dividend payout ratio (DPR) is presently 37.23%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RRX. Wall Street Zen lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Friday. Barclays increased their price target on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. KeyCorp set a $180.00 target price on Regal Rexnord and gave the company an "overweight" rating in a research report on Thursday, June 26th. Citigroup reiterated a "buy" rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Regal Rexnord presently has a consensus rating of "Buy" and an average target price of $185.25.

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.