Commerce Bank Purchases New Stake in Regal Rexnord Corporation $RRX

Key Points

• Commerce Bank acquired 193,302 shares of Regal Rexnord in the second quarter, worth approximately $46.0 million and representing about 0.29% of the company. Institutional investors collectively own 99.72% of the stock.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds. The stock has a consensus rating of “Moderate Buy” and an average price target of $244.92.
• Regal Rexnord exceeded quarterly earnings expectations, reporting $2.99 in adjusted EPS versus the $2.58 consensus, while revenue rose 4.2% year over year to $1.56 billion. The company also declared a quarterly dividend of $0.35 per share, equivalent to a 0.8% annualized yield.

Commerce Bank purchased a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 193,302 shares of the company's stock, valued at approximately $46,043,000. Commerce Bank owned about 0.29% of Regal Rexnord as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRX. Covestor Ltd boosted its holdings in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of Regal Rexnord in the 2nd quarter worth $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Garner Asset Management Corp purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at about $27,000. Finally, IFP Advisors Inc lifted its position in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company's stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RRX shares. 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Regal Rexnord in a research note on Monday, July 20th. They issued a "buy" rating and a $286.00 price objective for the company. Citigroup boosted their target price on Regal Rexnord from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, Wolfe Research set a $250.00 target price on Regal Rexnord in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.92.

Regal Rexnord Stock Performance

NYSE RRX opened at $166.36 on Friday. The company has a market capitalization of $11.08 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. 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 company has a 50-day simple moving average of $204.51 and a 200 day simple moving average of $203.75.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results 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 for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the previous year, the company earned $2.48 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. On average, research analysts predict that Regal Rexnord Corporation will post 10.68 EPS for the current year.

Regal Rexnord Announces Dividend

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

Regal Rexnord 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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