Vanguard Personalized Indexing Management LLC Grows Stock Position in Regal Rexnord Corporation $RRX

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Regal Rexnord Corporation by 78.3% in the second quarter, bringing its stake to 8,542 shares valued at $1,239,000.
• Regal Rexnord recently declared a quarterly dividend of $0.35, yielding approximately 1.0%, with a payout ratio of 37.23%.
• Analysts have given Regal Rexnord an average rating of "Moderate Buy" with a target price of $180.38, as several firms have adjusted their ratings and price targets in recent months.

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 78.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,542 shares of the company's stock after purchasing an additional 3,752 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Regal Rexnord were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Diamond Hill Capital Management Inc. increased its position in shares of Regal Rexnord by 6.0% during 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 purchasing an additional 175,273 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Regal Rexnord by 4.2% during 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 purchasing an additional 115,564 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 11.9% during the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock valued at $277,435,000 after purchasing an additional 259,885 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Regal Rexnord by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock valued at $194,955,000 after purchasing an additional 396,737 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Regal Rexnord by 6.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,200,555 shares of the company's stock valued at $136,683,000 after purchasing an additional 69,438 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Down 2.3%

RRX stock opened at $140.41 on Friday. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $185.28. 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 company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 1.41 and a beta of 1.16. The business has a 50 day simple moving average of $145.05 and a two-hundred day simple moving average of $136.95.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.85 billion during the quarter. Research analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 30th. Regal Rexnord's dividend payout ratio is presently 37.23%.

Analyst Ratings Changes

Several equities research analysts have recently commented on RRX shares. Citigroup reaffirmed a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Wall Street Zen downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 21st. The Goldman Sachs Group cut their price objective on Regal Rexnord from $192.00 to $170.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. Finally, Barclays cut their price objective on Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating for the company in a research note on Tuesday, September 16th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $180.38.

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.

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