Sit Investment Associates Inc. Buys 2,140 Shares of Regal Rexnord Corporation $RRX

Key Points

• Sit Investment Associates Inc. has increased its holdings in Regal Rexnord Corporation by 21.6%, now owning a total of 12,053 shares valued at approximately $1.37 million.
• Several analysts, including Goldman Sachs and Citigroup, have raised their target prices for Regal Rexnord stock, with a consensus price target now at $185.25.
• Regal Rexnord recently declared a quarterly dividend of $0.35 per share, which translates to an annualized yield of 1.0%.

Sit Investment Associates Inc. increased its stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 21.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,053 shares of the company's stock after purchasing an additional 2,140 shares during the period. Sit Investment Associates Inc.'s holdings in Regal Rexnord were worth $1,372,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RRX. Diamond Hill Capital Management Inc. grew its position in Regal Rexnord by 6.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock worth $351,070,000 after buying an additional 175,273 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Regal Rexnord by 4.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company's stock valued at $328,158,000 after purchasing an additional 115,564 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock worth $277,435,000 after purchasing an additional 259,885 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regal Rexnord by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock worth $206,729,000 after purchasing an additional 42,704 shares during the period. Finally, Nuveen LLC acquired a new stake in Regal Rexnord in the first quarter valued at approximately $117,996,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on RRX shares. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Barclays upped 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. Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $185.25.

Regal Rexnord Stock Down 0.8%

Shares of NYSE RRX traded down $1.1570 during mid-day trading on Thursday, hitting $143.7130. The company had a trading volume of 247,888 shares, compared to its average volume of 761,854. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The business's 50-day simple moving average is $147.45 and its 200 day simple moving average is $132.22. The company has a market capitalization of $9.54 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, beating 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 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.