VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.16 Million in Regal Rexnord Corporation $RRX

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,073 shares of the company's stock, valued at approximately $2,161,000.

Several other large investors have also bought and sold shares of the business. California State Teachers Retirement System raised its stake in Regal Rexnord by 23,869.5% during the second quarter. California State Teachers Retirement System now owns 17,490,292 shares of the company's stock worth $4,166,013,000 after acquiring an additional 17,417,323 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $1,477,356,000. Victory Capital Management Inc. boosted its stake in shares of Regal Rexnord by 42.6% in the 4th 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 in the last quarter. Viking Global Investors LP grew its holdings in shares of Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company's stock valued at $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Regal Rexnord by 75.8% during the 2nd quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company's stock valued at $615,496,000 after purchasing an additional 1,113,888 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RRX has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Oppenheimer reaffirmed an "outperform" rating on shares of Regal Rexnord in a research note on Friday, July 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a research note on Friday, July 17th. Wolfe Research set a $250.00 price objective on Regal Rexnord in a report on Thursday, July 9th. Finally, DA Davidson assumed coverage on Regal Rexnord in a research report on Tuesday, June 16th. They set a "buy" rating and a $260.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $244.92.

Regal Rexnord Trading Down 2.0%

RRX opened at $156.46 on Friday. Regal Rexnord Corporation has a fifty-two week low of $127.96 and a fifty-two 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 $10.42 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.19 and a beta of 1.06. The company's 50 day moving average price is $186.91 and its two-hundred day moving average price is $199.12.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.41. The firm had revenue of $1.56 billion during 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 company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.48 earnings per share. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, research analysts predict that Regal Rexnord Corporation will post 10.68 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.