The Manufacturers Life Insurance Company Purchases Shares of 724,633 Regal Rexnord Corporation $RRX

The Manufacturers Life Insurance Company purchased a new stake in Regal Rexnord Corporation (NYSE:RRX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 724,633 shares of the company’s stock, valued at approximately $172,600,000.

A number of other hedge funds also recently made changes to their positions in RRX. BlackRock Inc. acquired a new position in shares of Regal Rexnord in the second quarter worth approximately $1,477,356,000. Victory Capital Management Inc. increased its position in Regal Rexnord by 42.6% during 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 during the period. Viking Global Investors LP raised its holdings in Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after purchasing an additional 701,145 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Regal Rexnord by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company’s stock worth $355,031,000 after purchasing an additional 131,171 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Regal Rexnord by 27.1% in the 4th quarter. Invesco Ltd. now owns 1,905,828 shares of the company’s stock worth $267,426,000 after purchasing an additional 405,828 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on RRX. KeyCorp reduced their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Wolfe Research set a $250.00 target price on shares of Regal Rexnord in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a research report on Friday, July 10th. Finally, Citigroup boosted their price objective on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $244.92.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $163.17 on Tuesday. The firm has a 50 day moving average of $203.39 and a 200-day moving average of $203.93. The company has a market cap of $10.87 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 2.28 and a debt-to-equity ratio of 0.66. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $247.80.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.41. The company 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%. Regal Rexnord’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.48 EPS. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. On average, equities analysts forecast that Regal Rexnord Corporation will post 10.68 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a $0.35 dividend. 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 28.87%.

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.