United Services Automobile Association Makes New Investment in Regal Rexnord Corporation $RRX

Key Points

• United Services Automobile Association has acquired a new position in Regal Rexnord Corporation, purchasing 4,295 shares valued at approximately $507,000.
• Regal Rexnord's stock is currently rated as a "Buy" by eight research analysts, with a consensus price target of $185.25.
• The company recently announced a quarterly dividend of $0.35 per share, translating to an annualized dividend yield of 1.0%.

United Services Automobile Association purchased a new position in Regal Rexnord Corporation (NYSE:RRX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,295 shares of the company's stock, valued at approximately $507,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RRX. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord in the fourth quarter worth $31,000. Golden State Wealth Management LLC raised its holdings in shares of Regal Rexnord by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after buying an additional 138 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company's stock worth $70,000 after buying an additional 295 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord in the first quarter worth $81,000. Finally, Signaturefd LLC raised its holdings in shares of Regal Rexnord by 25.5% in the first quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on RRX. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Citigroup reiterated a "buy" rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Finally, Barclays increased their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Regal Rexnord has an average rating of "Buy" and a consensus price target of $185.25.

Regal Rexnord Stock Down 0.6%

RRX stock opened at $141.48 on Thursday. The firm has a market cap of $9.39 billion, a PE ratio of 37.63, a P/E/G ratio of 1.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The firm's fifty day moving average is $148.78 and its 200 day moving average is $132.96. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly 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. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors 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 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.

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