6,202,425 Shares in Regal Rexnord Corporation $RRX Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 6.2 million Regal Rexnord shares during the second quarter, valued at approximately $1.48 billion and representing about 9.32% of the company. Institutional investors collectively own 99.72% of RRX.
• Analysts maintain a favorable outlook, with eight Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $244.92.
• Regal Rexnord reported quarterly EPS of $2.99, exceeding estimates of $2.58, while revenue rose 4.2% year over year to $1.56 billion. The company also declared a quarterly dividend of $0.35, equivalent to a 0.8% annualized yield.

BlackRock Inc. purchased a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,202,425 shares of the company's stock, valued at approximately $1,477,356,000. BlackRock Inc. owned approximately 9.32% of Regal Rexnord at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vontobel Holding Ltd. grew its position in shares of Regal Rexnord by 5.2% during the 4th quarter. Vontobel Holding Ltd. now owns 276,266 shares of the company's stock valued at $38,766,000 after acquiring an additional 13,564 shares during the period. Easterly Investment Partners LLC increased its position in Regal Rexnord by 719.4% in the fourth quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company's stock worth $10,574,000 after buying an additional 66,158 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Regal Rexnord by 4.4% during the 1st quarter. Bank of America Corp DE now owns 397,219 shares of the company's stock valued at $74,383,000 after buying an additional 16,615 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Regal Rexnord by 42.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,793 shares of the company's stock valued at $3,619,000 after acquiring an additional 7,647 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Regal Rexnord by 42.6% in the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company's stock worth $793,983,000 after acquiring an additional 1,690,264 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RRX shares. Wolfe Research set a $250.00 price objective on shares of Regal Rexnord in a report on Thursday, July 9th. Oppenheimer reaffirmed an "outperform" rating on shares of Regal Rexnord in a research note on Friday, July 10th. Citigroup lifted their price target on shares of Regal Rexnord from $240.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. KeyCorp dropped their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Finally, UBS Group set a $260.00 target price on Regal Rexnord in a report on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $244.92.

Regal Rexnord Trading Down 2.1%

Shares of RRX stock opened at $165.99 on Friday. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year high of $247.80. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 1.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.28 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $205.43 and a 200-day simple moving average of $204.01.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.41. The business had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.58 billion. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.48 EPS. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. On average, equities research analysts expect that Regal Rexnord Corporation will post 10.68 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Regal Rexnord's dividend payout ratio (DPR) is 28.87%.

Regal Rexnord Company Profile

Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company's operations are organized into multiple business segments that address distinct customer needs.

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