Voya Investment Management LLC Increases Stock Holdings 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 increased its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 32.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,698 shares of the company's stock after purchasing an additional 10,755 shares during the quarter. Voya Investment Management LLC owned 0.07% of Regal Rexnord worth $4,975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RRX. Jefferies Financial Group Inc. acquired a new position in Regal Rexnord during the fourth quarter worth about $1,427,000. Avantax Advisory Services Inc. grew its holdings in shares of Regal Rexnord by 19.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company's stock worth $359,000 after acquiring an additional 519 shares during the period. Intech Investment Management LLC grew its holdings in shares of Regal Rexnord by 0.5% in the 1st quarter. Intech Investment Management LLC now owns 25,490 shares of the company's stock worth $2,902,000 after acquiring an additional 120 shares during the period. United Services Automobile Association purchased a new position in Regal Rexnord in the 1st quarter valued at approximately $507,000. Finally, Advisors Asset Management Inc. acquired a new position in Regal Rexnord during the first quarter worth $185,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 0.6%

Shares of RRX traded up $0.86 during trading hours on Monday, hitting $144.31. The stock had a trading volume of 902,202 shares, compared to its average volume of 669,533. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The firm has a market cap of $9.58 billion, a P/E ratio of 38.38, a P/E/G ratio of 1.44 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 company's fifty day simple moving average is $147.48 and its 200 day simple moving average is $133.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.06. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The company's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Equities research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 37.23%.

Wall Street Analysts Forecast Growth

RRX has been the topic of several research reports. The Goldman Sachs Group lowered their target price on Regal Rexnord from $192.00 to $170.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Sunday. JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a report on Monday, September 15th. They issued an "overweight" rating and a $200.00 price target on the stock. 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. 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 report on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $181.63.

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.