Strs Ohio Acquires Shares of 57,000 Regal Rexnord Corporation $RRX

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 Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 57,000 shares of the company's stock, valued at approximately $6,489,000. Strs Ohio owned 0.09% of Regal Rexnord at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in Regal Rexnord by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock valued at $1,543,000 after purchasing an additional 100 shares during the last quarter. Cetera Investment Advisers lifted its stake in Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock valued at $332,000 after purchasing an additional 102 shares during the last quarter. Greenleaf Trust lifted its stake in Regal Rexnord by 2.1% in the 1st quarter. Greenleaf Trust now owns 5,187 shares of the company's stock valued at $591,000 after purchasing an additional 105 shares during the last quarter. Xponance Inc. lifted its stake in Regal Rexnord by 1.5% in the 1st quarter. Xponance Inc. now owns 7,866 shares of the company's stock valued at $896,000 after purchasing an additional 120 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Regal Rexnord by 0.5% in the 1st quarter. Intech Investment Management LLC now owns 25,490 shares of the company's stock valued at $2,902,000 after purchasing an additional 120 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on RRX. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the company an "overweight" rating in a research note on Thursday, June 26th. Barclays cut their price objective on shares of Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating for the company in a research report on Tuesday. Citigroup restated a "buy" rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a "buy" rating for the company in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $181.63.

Regal Rexnord Price Performance

Shares of NYSE RRX traded down $0.95 during midday trading on Friday, reaching $143.47. The company's stock had a trading volume of 878,608 shares, compared to its average volume of 672,386. 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 fifty-two week low of $90.56 and a fifty-two week high of $185.28. The business's 50 day moving average price is $147.52 and its two-hundred day moving average price is $133.58. The company has a market cap of $9.52 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.45 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results 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 net margin of 4.28% and a return on equity of 9.73%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm's quarterly revenue 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, analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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.