United Services Automobile Association Invests $507,000 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 stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,295 shares of the company's stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew 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 buying an additional 100 shares during the last quarter. Cetera Investment Advisers grew 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 buying an additional 102 shares during the last quarter. Greenleaf Trust grew 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 buying an additional 105 shares during the last quarter. Xponance Inc. grew 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 buying an additional 120 shares during the last quarter. Finally, Dynasty Wealth Management LLC grew its stake in Regal Rexnord by 3.1% in the 1st quarter. Dynasty Wealth Management LLC now owns 4,265 shares of the company's stock valued at $486,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RRX shares. Barclays decreased their target price on shares of Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. started coverage on shares of Regal Rexnord in a research report on Monday. They set an "overweight" rating and a $200.00 target price on the stock. 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. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Citigroup reaffirmed a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $186.44.

Regal Rexnord Price Performance

NYSE:RRX traded down $1.55 on Tuesday, hitting $139.52. The company had a trading volume of 180,869 shares, compared to its average volume of 757,601. The firm has a 50 day moving average of $148.22 and a two-hundred day moving average of $133.18. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 1.40 and a beta of 1.18. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. 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 quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.06. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, research analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Regal Rexnord's dividend payout ratio (DPR) is presently 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.