Castleark Management LLC purchased a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,330 shares of the company's stock, valued at approximately $6,272,000.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at $1,477,356,000. Bank of New York Mellon Corp acquired a new stake in shares of Regal Rexnord during the 2nd quarter worth about $449,281,000. Victory Capital Management Inc. raised 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 valued at $793,983,000 after buying an additional 1,690,264 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Regal Rexnord in the 2nd quarter valued at about $254,637,000. Finally, Bessemer Group Inc. lifted its position in Regal Rexnord by 4,155.4% in the first quarter. Bessemer Group Inc. now owns 916,054 shares of the company's stock valued at $171,541,000 after buying an additional 894,527 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on RRX shares. DA Davidson initiated coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They set a "buy" rating and a $260.00 price target for the company. KeyCorp lowered their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Regal Rexnord in a report on Monday, July 20th. They issued a "buy" rating and a $286.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a research note on Friday, July 17th. Finally, Wolfe Research set a $250.00 price target on Regal Rexnord in a research report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.92.
Read Our Latest Stock Analysis on RRX
Regal Rexnord Stock Down 0.3%
Shares of RRX opened at $162.20 on Wednesday. The company's 50-day simple moving average is $202.19 and its 200-day simple moving average is $203.81. 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 1 year low of $127.96 and a 1 year high of $247.80. The stock has a market capitalization of $10.80 billion, a PE ratio of 33.44, 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 for the quarter, beating analysts' consensus estimates of $2.58 by $0.41. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the business 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. Analysts forecast that Regal Rexnord Corporation will post 10.68 earnings per share for the current fiscal year.
Regal Rexnord Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord's payout ratio is 28.87%.
About Regal Rexnord
(
Free Report)
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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