50,044 Shares in Regal Rexnord Corporation $RRX Bought by Engineers Gate Manager LP

Engineers Gate Manager LP acquired a new position in shares of Regal Rexnord Corporation (NYSE:RRX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,044 shares of the company’s stock, valued at approximately $11,920,000.

Other hedge funds have also bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of Regal Rexnord by 23,869.5% in the second quarter. California State Teachers Retirement System now owns 17,490,292 shares of the company’s stock valued at $4,166,013,000 after acquiring an additional 17,417,323 shares during the period. BlackRock Inc. purchased a new position in shares of Regal Rexnord during the 2nd quarter worth about $1,477,356,000. Bank of New York Mellon Corp purchased a new position in shares of Regal Rexnord during the 2nd quarter worth about $449,281,000. Victory Capital Management Inc. grew its holdings 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 last quarter. Finally, Wellington Management Group LLP grew its holdings in 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. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RRX shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Regal Rexnord in a research report on Monday, July 20th. They issued a “buy” rating and a $286.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wolfe Research set a $250.00 price target on Regal Rexnord in a research note on Thursday, July 9th. Finally, KeyCorp decreased their price target on Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average price target of $244.92.

Regal Rexnord Trading Down 2.0%

RRX stock opened at $156.46 on Friday. Regal Rexnord Corporation has a 12 month low of $127.96 and a 12 month high of $247.80. The firm’s 50-day moving average is $186.91 and its 200 day moving average is $199.12. The company has a market capitalization of $10.42 billion, a PE ratio of 32.26, a P/E/G ratio of 1.19 and a beta of 1.06. 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) last released its quarterly earnings data 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 company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period 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, research analysts anticipate that Regal Rexnord Corporation will post 10.68 EPS for the current year.

Regal Rexnord Dividend Announcement

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 issued a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Regal Rexnord’s payout ratio is presently 28.87%.

Regal Rexnord Profile

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.