Regal Rexnord Corporation $RRX Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Regal Rexnord stake by 4.4% in the first quarter, acquiring 16,615 additional shares and bringing its holdings to 397,219 shares, worth approximately $74.4 million. Institutional investors collectively own 99.72% of the company.
• Analysts maintain a positive outlook, 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 the $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, representing a 0.8% yield.

Bank of America Corp DE boosted its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 397,219 shares of the company's stock after buying an additional 16,615 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of Regal Rexnord worth $74,383,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. IFP Advisors Inc lifted its holdings in Regal Rexnord by 34.0% in the 4th 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. Parallel Advisors LLC lifted its stake in shares of Regal Rexnord by 5.6% during the first quarter. Parallel Advisors LLC now owns 938 shares of the company's stock valued at $176,000 after buying an additional 50 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company's stock valued at $2,084,000 after buying an additional 60 shares during the period. UMB Bank n.a. boosted its position in Regal Rexnord by 6.2% during the fourth quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $144,000 after acquiring an additional 60 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in Regal Rexnord by 3.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company's stock worth $392,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup boosted their price target on Regal Rexnord from $240.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. KeyCorp decreased their price objective on Regal Rexnord from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday. UBS Group set a $260.00 price objective on Regal Rexnord in a research report on Monday, June 15th. Oppenheimer reiterated an "outperform" rating on shares of Regal Rexnord in a research note on Friday, July 10th. Finally, Wolfe Research set a $250.00 target price on Regal Rexnord in a research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.92.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $178.28 on Monday. The firm has a fifty day moving average of $212.23 and a 200-day moving average of $203.07. 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 firm has a market capitalization of $11.87 billion, a P/E ratio of 36.76, a PEG ratio of 1.33 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly 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. 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 period in the prior year, the company earned $2.48 EPS. 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. As a group, analysts predict that Regal Rexnord Corporation will post 10.65 EPS for the current year.

Regal Rexnord Announces Dividend

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

Insider Buying and Selling

In related news, CFO Robert Rehard sold 6,499 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

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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