Engineers Gate Manager LP Takes $11.92 Million Position in Regal Rexnord Corporation $RRX

Key Points

• Engineers Gate Manager LP acquired 50,044 shares of Regal Rexnord, worth approximately $11.92 million, giving it a 0.08% stake. Institutional investors collectively own 99.72% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $244.92.
• Regal Rexnord exceeded quarterly earnings expectations with EPS of $2.99 versus $2.58 expected, while revenue rose 4.2% year over year. The company also declared a quarterly dividend of $0.35 per share, representing a 0.9% yield.

Engineers Gate Manager LP acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 50,044 shares of the company's stock, valued at approximately $11,920,000. Engineers Gate Manager LP owned 0.08% of Regal Rexnord at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its position in shares of Regal Rexnord by 5.2% during the 4th quarter. Vontobel Holding Ltd. now owns 276,266 shares of the company's stock valued at $38,766,000 after purchasing an additional 13,564 shares during the period. Bank of America Corp DE boosted its holdings in Regal Rexnord by 4.4% in the 1st quarter. Bank of America Corp DE now owns 397,219 shares of the company's stock worth $74,383,000 after buying an additional 16,615 shares during the period. Easterly Investment Partners LLC boosted its holdings in Regal Rexnord by 719.4% in the 4th quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company's stock worth $10,574,000 after buying an additional 66,158 shares during the period. BlackRock Inc. purchased a new stake in Regal Rexnord in the 2nd quarter worth $1,477,356,000. Finally, Medina Value Partners LLC purchased a new stake in Regal Rexnord in the 2nd quarter worth $12,349,675. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RRX. Wall Street Zen downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Wolfe Research set a $250.00 target price on Regal Rexnord in a research report on Thursday, July 9th. Oppenheimer reissued an "outperform" rating on shares of Regal Rexnord in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft began coverage on Regal Rexnord in a report on Monday, July 20th. They issued a "buy" rating and a $286.00 price target on the stock. Finally, DA Davidson assumed coverage on Regal Rexnord in a research note on Tuesday, June 16th. They issued a "buy" rating and a $260.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and an average price target of $244.92.

Regal Rexnord Price Performance

RRX stock opened at $156.46 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 quick ratio of 1.16, a current ratio of 2.28 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $186.91 and a two-hundred day simple moving average of $199.12. The firm has a market capitalization of $10.42 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06.

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

Regal Rexnord Dividend Announcement

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 paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord's payout ratio is presently 28.87%.

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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