Regal Rexnord Corporation $RRX Shares Sold by Amundi

Amundi lessened its stake in Regal Rexnord Corporation (NYSE:RRX) by 9.6% during the first quarter, HoldingsChannel.com reports. The firm owned 20,956 shares of the company’s stock after selling 2,229 shares during the period. Amundi’s holdings in Regal Rexnord were worth $2,386,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RRX. Nuveen LLC acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at about $117,996,000. Invesco Ltd. raised its stake in shares of Regal Rexnord by 76.3% in the 1st quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock valued at $106,203,000 after purchasing an additional 403,845 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Regal Rexnord by 79.8% in the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock valued at $139,569,000 after purchasing an additional 399,267 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Regal Rexnord by 30.2% in 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 in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Regal Rexnord by 11.9% in 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 in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE RRX opened at $144.90 on Friday. 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. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 38.54, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. The company has a 50-day moving average price of $148.64 and a two-hundred day moving average price of $133.04.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.42 by $0.06. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. Regal Rexnord’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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 company an “overweight” rating in a research report on Thursday, June 26th. Citigroup reaffirmed a “buy” rating and set a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Barclays boosted their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $185.25.

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.