Connor Clark & Lunn Investment Management Ltd. acquired a new position in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,270 shares of the company's stock, valued at approximately $5,543,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Regal Rexnord in the 2nd quarter valued at about $1,477,356,000. Bank of New York Mellon Corp bought a new position in shares of Regal Rexnord during the second quarter valued at approximately $449,281,000. Victory Capital Management Inc. grew its stake in Regal Rexnord by 42.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company's stock valued at $793,983,000 after purchasing an additional 1,690,264 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Regal Rexnord during the 2nd quarter valued at $254,637,000. Finally, Bessemer Group Inc. boosted its stake in Regal Rexnord by 4,155.4% in the 1st quarter. Bessemer Group Inc. now owns 916,054 shares of the company's stock worth $171,541,000 after purchasing an additional 894,527 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
Regal Rexnord Price Performance
NYSE RRX opened at $164.09 on Friday. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-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 firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.09. The company has a 50 day simple moving average of $199.82 and a 200-day simple moving average of $203.22.
Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.99 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company posted $2.48 earnings per share. The firm's 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. Equities research analysts predict that Regal Rexnord Corporation will post 10.68 earnings per share for the current fiscal year.
Regal Rexnord Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.9%. Regal Rexnord's dividend payout ratio is currently 28.87%.
Analyst Upgrades and Downgrades
RRX has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Regal Rexnord in a report on Friday, July 17th. KeyCorp lowered their target price on shares of Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Regal Rexnord in a research note on Monday, July 20th. They set a "buy" rating and a $286.00 target price on the stock. Wolfe Research set a $250.00 price objective on shares of Regal Rexnord in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on Regal Rexnord from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.92.
Read Our Latest Stock Analysis on RRX
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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