49,163 Shares in Regal Rexnord Corporation $RRX Acquired by Woodline Partners LP

Woodline Partners LP purchased a new position in shares of Regal Rexnord Corporation (NYSE:RRX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 49,163 shares of the company’s stock, valued at approximately $5,597,000.

Several other large investors also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. boosted its position in Regal Rexnord by 6.0% in 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 buying an additional 175,273 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Regal Rexnord by 4.2% in 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 buying an additional 115,564 shares during the period. Victory Capital Management Inc. boosted its position in 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 buying an additional 259,885 shares during the period. Dimensional Fund Advisors LP increased its holdings in Regal Rexnord by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after purchasing an additional 396,737 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Regal Rexnord by 3.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company’s stock worth $206,729,000 after purchasing an additional 42,704 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Down 4.3%

Shares of NYSE RRX opened at $138.68 on Friday. 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 capitalization of $9.20 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The stock’s fifty day simple moving average is $148.38 and its two-hundred day simple moving average is $133.08. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its 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 business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business’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 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on RRX. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an “overweight” rating in a report on Thursday, June 26th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Citigroup restated a “buy” rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays raised their price objective on Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Finally, Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a report on Saturday. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.