Hudson Edge Investment Partners Inc. Sells 311 Shares of Regal Rexnord Corporation $RRX

Hudson Edge Investment Partners Inc. reduced its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 4.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,640 shares of the company’s stock after selling 311 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Regal Rexnord were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. raised its holdings in Regal Rexnord by 6.0% during 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 last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 worth $328,158,000 after purchasing an additional 115,564 shares in the last quarter. Victory Capital Management Inc. raised its holdings 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 worth $277,435,000 after purchasing an additional 259,885 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Regal Rexnord by 30.2% in 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 in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Regal Rexnord by 6.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,200,555 shares of the company’s stock worth $136,683,000 after purchasing an additional 69,438 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on RRX shares. The Goldman Sachs Group decreased their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Barclays decreased their price objective on shares of Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating for the company in a report on Tuesday, September 16th. JPMorgan Chase & Co. started coverage on shares of Regal Rexnord in a report on Monday, September 15th. They issued an “overweight” rating and a $200.00 price objective for the company. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the stock an “overweight” rating in a report on Thursday, June 26th. Finally, Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $181.63.

Regal Rexnord Stock Up 0.3%

Shares of Regal Rexnord stock opened at $143.56 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The company has a 50-day moving average of $146.37 and a 200 day moving average of $135.08. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 1.44 and a beta of 1.16. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.06. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

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.