57,000 Shares in Regal Rexnord Corporation $RRX Acquired by Strs Ohio

Key Points

• Strs Ohio has invested approximately $6.49 million in Regal Rexnord Corporation by acquiring 57,000 shares, representing about 0.09% ownership of the company.
• Regal Rexnord reported a quarterly EPS of $2.48, beating analysts' estimates, while its revenue reached $1.50 billion despite a year-over-year decline of 3.3%.
• The company has declared a quarterly dividend of $0.35 per share, with a yield of 1.0%, scheduled for payment on October 14th.

Strs Ohio bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57,000 shares of the company's stock, valued at approximately $6,489,000. Strs Ohio owned approximately 0.09% of Regal Rexnord as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RRX. Geneos Wealth Management Inc. lifted its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Intech Investment Management LLC lifted its stake in Regal Rexnord by 0.5% during the first quarter. Intech Investment Management LLC now owns 25,490 shares of the company's stock worth $2,902,000 after purchasing an additional 120 shares during the last quarter. SCS Capital Management LLC bought a new stake in Regal Rexnord during the first quarter worth about $362,000. Woodline Partners LP bought a new stake in Regal Rexnord during the first quarter worth about $5,597,000. Finally, Dean Capital Management lifted its stake in Regal Rexnord by 2.0% during the first quarter. Dean Capital Management now owns 9,886 shares of the company's stock worth $1,126,000 after purchasing an additional 192 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 1.3%

Shares of RRX stock traded down $1.81 during midday trading on Friday, reaching $142.61. 141,724 shares of the stock were exchanged, compared to its average volume of 756,488. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28. The company's 50 day moving average is $147.69 and its two-hundred day moving average is $133.42. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a market cap of $9.47 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its 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 return on equity of 9.73% and a net margin of 4.28%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $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. On average, equities research analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord's dividend payout ratio is 37.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RRX shares. Citigroup reaffirmed a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. JPMorgan Chase & Co. started coverage on Regal Rexnord in a research note on Monday. They set an "overweight" rating and a $200.00 price target for the company. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Finally, Barclays lowered their target price on Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Regal Rexnord has an average rating of "Buy" and an average target price of $181.63.

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.