Bank of America Corp DE Acquires New Position in Regal Rexnord Corporation $RRX

Key Points

• Bank of America acquired 465,114 shares of Regal Rexnord in the second quarter, worth approximately $110.8 million and representing 0.70% of the company. Overall, institutional investors own 99.72% of RRX’s outstanding stock.
• 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 $0.35 quarterly dividend, equivalent to a 0.9% annual yield.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $244.92.

Bank of America Corp DE acquired a new stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 465,114 shares of the company's stock, valued at approximately $110,785,000. Bank of America Corp DE owned 0.70% of Regal Rexnord as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRX. Man Group plc acquired a new position in Regal Rexnord in the second quarter worth approximately $3,957,000. Medina Value Partners LLC acquired a new stake in Regal Rexnord in the second quarter valued at approximately $12,349,675. Polar Asset Management Partners Inc. acquired a new stake in Regal Rexnord in the second quarter valued at approximately $11,275,000. Jupiter Topco LLC bought a new stake in Regal Rexnord in the second quarter worth approximately $37,784,000. Finally, Stanley Capital Management LLC acquired a new position in shares of Regal Rexnord during the 2nd quarter worth $31,822,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of RRX opened at $148.08 on Friday. The firm has a market capitalization of $9.86 billion, a PE ratio of 30.53, a P/E/G ratio of 1.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 2.28. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $247.80. The stock has a 50 day simple moving average of $179.59 and a 200 day simple moving average of $196.40.

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

Regal Rexnord Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.9%. Regal Rexnord's payout ratio is currently 28.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. KeyCorp cut their price target on shares of Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, August 6th. Citigroup increased their target price on shares of Regal Rexnord from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their target price on Regal Rexnord from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. UBS Group set a $260.00 price target on Regal Rexnord in a research report on Monday, June 15th. Finally, Wall Street Zen downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.92.

About Regal Rexnord

Regal Rexnord Corporation NYSE: RRX is a global manufacturer of industrial powertrain, motion control, automation and air-management products. The company develops technologies that help customers operate equipment more efficiently, reliably and safely across a range of industrial and commercial applications.

Its product portfolio includes electric motors and generators, gearboxes and geared motors, bearings, couplings, clutches, brakes, conveyor components, belting, automation systems, power-transmission products, fans and blowers.

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