Louisiana State Employees Retirement System Increases Holdings in Regal Rexnord Corporation $RRX

Louisiana State Employees Retirement System increased its stake in Regal Rexnord Corporation (NYSE:RRX) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,700 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Regal Rexnord were worth $2,711,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position 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 purchasing an additional 127 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Regal Rexnord by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after purchasing an additional 138 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Regal Rexnord by 91.6% in the first quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after purchasing an additional 295 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord in the first quarter valued at $81,000. Finally, Parallel Advisors LLC grew its position in shares of Regal Rexnord by 69.0% in the second quarter. Parallel Advisors LLC now owns 818 shares of the company’s stock valued at $119,000 after purchasing an additional 334 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

RRX opened at $145.19 on Friday. The stock has a 50-day moving average price of $145.48 and a 200-day moving average price of $135.94. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month 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 capitalization of $9.64 billion, a P/E ratio of 38.61, a PEG ratio of 1.48 and a beta of 1.16.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) 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 firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $2.29 EPS. The company’s revenue for the quarter 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. Equities analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued 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 is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 37.23%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. KeyCorp set a $180.00 target price on Regal Rexnord and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Citigroup restated a “buy” rating and set a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, Barclays reduced their target price 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 and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.