First Hawaiian Bank increased its position in Regal Rexnord Corporation (NYSE:RRX – Free Report) by 30.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,801 shares of the company’s stock after buying an additional 1,571 shares during the quarter. First Hawaiian Bank’s holdings in Regal Rexnord were worth $774,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Inspire Investing LLC lifted its holdings in shares of Regal Rexnord by 57.6% in the first quarter. Inspire Investing LLC now owns 2,640 shares of the company’s stock valued at $301,000 after buying an additional 965 shares during the period. Strs Ohio acquired a new stake in shares of Regal Rexnord in the first quarter valued at $6,489,000. Geneos Wealth Management Inc. lifted its holdings in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Regal Rexnord by 0.5% in the first quarter. Intech Investment Management LLC now owns 25,490 shares of the company’s stock valued at $2,902,000 after buying an additional 120 shares during the period. Finally, SCS Capital Management LLC acquired a new position in shares of Regal Rexnord in the 1st quarter worth $362,000. Institutional investors and hedge funds own 99.72% of the company’s stock.
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Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Citigroup restated a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays lifted their target price on Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, KeyCorp set a $180.00 price target on Regal Rexnord and gave the company an “overweight” rating in a report on Thursday, June 26th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Regal Rexnord has an average rating of “Buy” and a consensus price target of $185.25.
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Regal Rexnord Stock Performance
Shares of NYSE RRX opened at $138.68 on Monday. The business’s 50-day moving average price is $148.38 and its two-hundred day moving average price is $133.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The company has a market capitalization of $9.20 billion, a P/E ratio of 36.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18.
Regal Rexnord (NYSE:RRX – Get Free Report) last announced 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 return on equity of 9.73% and a net margin of 4.28%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business’s quarterly 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. Analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.
Regal Rexnord Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders 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 payout ratio is currently 37.23%.
Regal Rexnord Company Profile
(Free Report)
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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