Russell Investments Group Ltd. Purchases 110,666 Shares of Regal Rexnord Corporation $RRX

Russell Investments Group Ltd. raised its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 511.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 132,284 shares of the company's stock after purchasing an additional 110,666 shares during the period. Russell Investments Group Ltd. owned approximately 0.20% of Regal Rexnord worth $15,061,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RRX. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord in the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC raised its holdings in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after purchasing an additional 138 shares during the period. Headlands Technologies LLC bought a new stake in shares of Regal Rexnord in the 1st quarter worth approximately $81,000. Signaturefd LLC raised its holdings in shares of Regal Rexnord by 25.5% in the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after purchasing an additional 185 shares during the period. Finally, CWM LLC raised its holdings in shares of Regal Rexnord by 18.1% in the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock worth $115,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of research reports. Barclays lifted their price target on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Citigroup reaffirmed 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. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Robert W. Baird lifted their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of "Buy" and a consensus price target of $185.25.

Regal Rexnord Stock Performance

RRX stock traded up $11.1980 during midday trading on Friday, reaching $154.9280. 246,730 shares of the company's stock traded hands, compared to its average volume of 762,666. The company has a 50-day moving average price of $147.50 and a two-hundred day moving average price of $132.17. 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 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market capitalization of $10.28 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, equities analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord's dividend payout ratio is presently 37.23%.

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.