The Manufacturers Life Insurance Company Buys 69,438 Shares of Regal Rexnord Corporation $RRX

Key Points

• The Manufacturers Life Insurance Company increased its stake in Regal Rexnord Corporation by 6.1%, now holding 1.81% of the company, valued at approximately $136.7 million.
• Analysts have recently reported positive ratings and increased price targets for Regal Rexnord, with an average consensus target of $185.25 and several firms issuing "buy" or "strong-buy" ratings.
• Regal Rexnord announced a quarterly dividend of $0.35, with a dividend yield of 0.9%, indicating a healthy return for shareholders.

The Manufacturers Life Insurance Company lifted its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,200,555 shares of the company's stock after acquiring an additional 69,438 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.81% of Regal Rexnord worth $136,683,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Diamond Hill Capital Management Inc. lifted its position in shares of Regal Rexnord by 6.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock valued at $351,070,000 after acquiring an additional 175,273 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 acquiring an additional 115,564 shares in the last quarter. Victory Capital Management Inc. lifted its position 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 valued at $277,435,000 after acquiring an additional 259,885 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Regal Rexnord by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock valued at $194,955,000 after acquiring an additional 396,737 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Regal Rexnord by 3.3% in the 4th 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 buying an additional 42,704 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

NYSE:RRX traded down $3.16 during midday trading on Tuesday, reaching $146.17. The stock had a trading volume of 558,048 shares, compared to its average volume of 758,091. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. The firm's fifty day simple moving average is $149.15 and its 200-day simple moving average is $132.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The stock has a market capitalization of $9.70 billion, a P/E ratio of 38.88, a PEG ratio of 1.50 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 (EPS) 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business posted $2.29 EPS. Regal Rexnord's revenue 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, equities research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RRX shares. Barclays increased their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Robert W. Baird increased their target price 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. The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Citigroup reiterated a "buy" rating and issued a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Regal Rexnord has an average rating of "Buy" and an average price target of $185.25.

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.