Algert Global LLC Boosts Position in Regal Rexnord Corporation $RRX

Algert Global LLC grew its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 364.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,170 shares of the company's stock after buying an additional 19,750 shares during the quarter. Algert Global LLC's holdings in Regal Rexnord were worth $5,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RRX. Vontobel Holding Ltd. increased its stake in Regal Rexnord by 5.2% in the fourth 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 boosted its holdings in Regal Rexnord by 719.4% during the fourth quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company's stock valued at $10,574,000 after purchasing an additional 66,158 shares in the last quarter. Bank of America Corp DE boosted its holdings in Regal Rexnord by 4.4% during the first quarter. Bank of America Corp DE now owns 397,219 shares of the company's stock valued at $74,383,000 after purchasing an additional 16,615 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of 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 buying an additional 1,690,264 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Regal Rexnord during the second quarter valued at $1,477,356,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Analyst Upgrades and Downgrades

RRX has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Regal Rexnord in a report on Friday, July 17th. Wolfe Research set a $250.00 price objective on Regal Rexnord in a research report on Thursday, July 9th. DA Davidson started coverage on Regal Rexnord in a research note on Tuesday, June 16th. They issued a "buy" rating and a $260.00 price objective on the stock. KeyCorp lowered their target price on Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and an average target price of $244.92.

Regal Rexnord Stock Up 2.1%

Shares of NYSE:RRX opened at $165.56 on Thursday. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $247.80. The company has a 50 day moving average of $201.08 and a 200-day moving average of $203.56. 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 market cap of $11.02 billion, a price-to-earnings ratio of 34.14, a P/E/G ratio of 1.21 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.41. The firm had revenue of $1.56 billion for 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 period last year, the firm earned $2.48 earnings per share. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. On average, sell-side analysts forecast that Regal Rexnord Corporation will post 10.68 earnings per share for the current year.

Regal Rexnord Announces Dividend

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

About Regal Rexnord

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source