Bank of New York Mellon Corp Takes $449.28 Million Position in Regal Rexnord Corporation $RRX

Key Points

• Bank of New York Mellon acquired 1.89 million Regal Rexnord shares worth approximately $449.3 million, giving it a 2.83% stake. Institutional investors collectively own 99.72% of the company.
• Analyst sentiment remains favorable, with eight Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $244.92.
• Regal Rexnord exceeded quarterly earnings expectations, reporting $2.99 in EPS versus a $2.58 consensus estimate, while revenue rose 4.2% year over year to $1.56 billion. The company also declared a quarterly dividend of $0.35 per share.

Bank of New York Mellon Corp acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,886,231 shares of the company's stock, valued at approximately $449,281,000. Bank of New York Mellon Corp owned approximately 2.83% of Regal Rexnord at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RRX. Covestor Ltd lifted its position in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Clearstead Trust LLC acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after buying an additional 127 shares during the period. Garner Asset Management Corp bought a new stake in shares of Regal Rexnord during the 4th quarter valued at about $27,000. Finally, IFP Advisors Inc raised its stake in Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company's stock worth $27,000 after acquiring an additional 49 shares during the period. Institutional investors own 99.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RRX shares. Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. DA Davidson started coverage on Regal Rexnord in a research report on Tuesday, June 16th. They issued a "buy" rating and a $260.00 target price on the stock. 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 research note on Tuesday, May 26th. KeyCorp reduced their price target 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, Citigroup boosted their target price on shares of Regal Rexnord from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $244.92.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $166.36 on Friday. The firm's 50 day simple moving average is $204.51 and its 200-day simple moving average is $203.75. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. 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 company has a market cap of $11.08 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.48 EPS. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, equities research analysts predict that Regal Rexnord Corporation will post 10.68 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date 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 presently 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.

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