Regal Rexnord Corporation $RRX Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 511.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,284 shares of the company's stock after purchasing an additional 110,666 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Regal Rexnord worth $15,061,000 as of its most recent SEC filing.

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

Regal Rexnord Stock Down 2.3%

NYSE RRX traded down $3.4440 during trading hours on Wednesday, hitting $145.0260. 789,789 shares of the company were exchanged, compared to its average volume of 765,739. The company has a 50 day moving average of $147.43 and a two-hundred day moving average of $132.14. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 1.48 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.Regal Rexnord's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Equities research analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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 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 of this dividend is Tuesday, September 30th. Regal Rexnord's dividend payout ratio is 37.23%.

Analysts Set New Price Targets

RRX has been the topic of a number of recent research reports. Barclays boosted their price objective on Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Citigroup reissued a "buy" rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Finally, Robert W. Baird boosted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price 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.