Synovus Financial Corp Has $1.33 Million Holdings in Regal Rexnord Corporation $RRX

Key Points

• Synovus Financial Corp's investment in Regal Rexnord Corporation has increased by 194.9%, bringing their total holdings to 11,682 shares valued at approximately $1.33 million.
• Regal Rexnord reports earnings of $2.48 EPS for the last quarter, surpassing expectations, but experienced a 3.3% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.35 per share, translating to an annualized dividend yield of 0.9%.

Synovus Financial Corp increased its holdings in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 194.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,682 shares of the company's stock after buying an additional 7,720 shares during the period. Synovus Financial Corp's holdings in Regal Rexnord were worth $1,330,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of RRX. Bernard Wealth Management Corp. acquired a new position in Regal Rexnord during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC boosted its stake in Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares during the period. Headlands Technologies LLC acquired a new position in Regal Rexnord during the 1st quarter valued at about $81,000. Signaturefd LLC boosted its stake in Regal Rexnord by 25.5% during the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock valued at $104,000 after purchasing an additional 185 shares during the period. Finally, CWM LLC boosted its stake in Regal Rexnord by 18.1% during the 1st quarter. CWM LLC now owns 1,011 shares of the company's stock valued at $115,000 after purchasing an additional 155 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

RRX stock traded down $3.81 on Friday, hitting $149.10. 621,472 shares of the company's stock traded hands, compared to its average volume of 907,595. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 39.65, a P/E/G ratio of 1.54 and a beta of 1.18. The stock has a fifty day moving average of $148.99 and a 200-day moving average of $132.51. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The business'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 declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders 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 0.9%. Regal Rexnord's payout ratio is currently 37.23%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays boosted their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Citigroup restated a "buy" rating and set a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Robert W. Baird boosted their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $185.25.

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.