Regal Rexnord Corporation $RRX Stock: Oppenheimer & Co. Inc. Grows Holdings

Key Points

• Oppenheimer & Co. increased its Regal Rexnord stake by 124% in the third quarter to 50,734 shares, while institutional investors and hedge funds collectively owned 99.72% of the company.
• Regal Rexnord reported quarterly EPS of $2.99, beating estimates by $0.41, although revenue of $1.56 billion fell short of expectations; full-year EPS guidance is $10.35–$10.85.
• The company declared a quarterly dividend of $0.35, or $1.40 annually, representing a 0.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $230.50.

Oppenheimer & Co. Inc. boosted its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 124.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,734 shares of the company's stock after buying an additional 28,081 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.08% of Regal Rexnord worth $7,869,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RRX. BlackRock Inc. purchased a new stake in Regal Rexnord during the 2nd quarter worth approximately $1,477,356,000. Wellington Management Group LLP raised its holdings in shares of Regal Rexnord by 75.8% during the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company's stock valued at $615,496,000 after acquiring an additional 1,113,888 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Regal Rexnord during the second quarter valued at approximately $449,281,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Regal Rexnord in the second quarter valued at approximately $254,637,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Regal Rexnord in the second quarter valued at approximately $212,260,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 1.8%

Shares of Regal Rexnord stock opened at $160.99 on Thursday. The stock has a market cap of $10.72 billion, a P/E ratio of 33.19, a P/E/G ratio of 1.18 and a beta of 1.09. The stock's 50 day simple moving average is $158.13 and its 200-day simple moving average is $189.18. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year 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.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.99 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The business's revenue for the quarter was up 4.2% on a year-over-year basis. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. Analysts predict that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Regal Rexnord's dividend payout ratio (DPR) is 28.87%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RRX shares. Citigroup lowered their price target on Regal Rexnord from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, October 12th. Wall Street Zen raised Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Saturday, October 24th. 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, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a report on Thursday, October 15th. Finally, Wolfe Research set a $250.00 target price on shares of Regal Rexnord in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of "Moderate Buy" and a consensus price target of $230.50.

Regal Rexnord Profile

Regal Rexnord Corporation is an industrial manufacturing company that develops and produces electric motors, power transmission components, motion-control systems and other equipment used in industrial and commercial applications. Its products include motors, gearboxes, bearings, couplings, belts, chains, drives, clutches, brakes and related controls, as well as air-moving and power-management solutions.

The company serves customers across industries such as automation, material handling, food and beverage, renewable energy, heating and ventilation, agriculture, and general industrial production.

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