Voya Investment Management LLC Has $4.98 Million Stock Position in Regal Rexnord Corporation $RRX

Key Points

• Voya Investment Management LLC increased its stake in Regal Rexnord by 32.6%, acquiring an additional 10,755 shares during the first quarter, bringing its total ownership to 43,698 shares valued at approximately $4.98 million.
• Regal Rexnord reported $2.48 earnings per share for the last quarter, exceeding analysts' expectations of $2.42, while also announcing a $0.35 quarterly dividend set to be paid on October 14th.
• Several analysts have upgraded their ratings on Regal Rexnord, with Goldman Sachs adjusting their price target downward from $192 to $170, while others, including Citigroup and JPMorgan Chase, maintaining a buy rating with targets up to $200.

Voya Investment Management LLC boosted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,698 shares of the company's stock after acquiring an additional 10,755 shares during the quarter. Voya Investment Management LLC owned approximately 0.07% of Regal Rexnord worth $4,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRX. Nuveen LLC bought a new position in Regal Rexnord during the first quarter valued at approximately $117,996,000. Invesco Ltd. raised its position in Regal Rexnord by 76.3% during the first quarter. Invesco Ltd. now owns 932,829 shares of the company's stock valued at $106,203,000 after acquiring an additional 403,845 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Regal Rexnord by 30.2% in the first 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 period. Victory Capital Management Inc. raised its position in shares of Regal Rexnord by 11.9% in the first 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 period. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Regal Rexnord in the first quarter valued at approximately $25,678,000. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Performance

RRX traded down $0.95 during trading on Friday, reaching $143.47. 878,608 shares of the company's stock were exchanged, compared to its average volume of 672,386. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $147.52 and a 200 day moving average price of $133.58. The company has a market capitalization of $9.52 billion, a P/E ratio of 38.16, a PEG ratio of 1.45 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping 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 firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. The business'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. As a group, analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RRX shares. JPMorgan Chase & Co. started coverage on shares of Regal Rexnord in a research report on Monday, September 15th. They issued an "overweight" rating and a $200.00 price target on the stock. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Barclays dropped their price target 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. The Goldman Sachs Group dropped their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Citigroup reaffirmed a "buy" rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $181.63.

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.