Royal Bank of Canada grew its stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) by 54.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,038 shares of the company’s stock after acquiring an additional 25,422 shares during the period. Royal Bank of Canada’s holdings in Regal Rexnord were worth $13,489,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Easterly Investment Partners LLC boosted its holdings in Regal Rexnord by 719.4% in the fourth quarter. Easterly Investment Partners LLC now owns 75,354 shares of the company’s stock valued at $10,574,000 after acquiring an additional 66,158 shares during the last quarter. Vontobel Holding Ltd. increased its position in Regal Rexnord by 5.2% in the fourth quarter. Vontobel Holding Ltd. now owns 276,266 shares of the company’s stock worth $38,766,000 after purchasing an additional 13,564 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Regal Rexnord by 42.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,793 shares of the company’s stock worth $3,619,000 after purchasing an additional 7,647 shares during the last quarter. Victory Capital Management Inc. lifted 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. Finally, Handelsbanken Fonder AB lifted its position in Regal Rexnord by 67.4% during the 4th quarter. Handelsbanken Fonder AB now owns 250,735 shares of the company’s stock valued at $35,183,000 after purchasing an additional 100,916 shares during the period. 99.72% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on RRX. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Regal Rexnord in a research report on Monday, July 20th. They set a “buy” rating and a $286.00 price target for the company. Citigroup lifted their target price on shares of Regal Rexnord from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Friday, July 17th. DA Davidson began coverage on Regal Rexnord in a research note on Tuesday, June 16th. They issued a “buy” rating and a $260.00 price target on the stock. Finally, Wolfe Research set a $250.00 price target on Regal Rexnord in a research report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $244.92.
Insider Buying and Selling
In other news, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the transaction, the chief financial officer owned 27,965 shares in the company, valued at $5,593,000. This represents a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This represents a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is owned by corporate insiders.
Regal Rexnord Stock Performance
RRX stock opened at $178.28 on Friday. The business’s 50-day moving average price is $212.23 and its two-hundred day moving average price is $202.77. The company has a current ratio of 2.28, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. The firm has a market cap of $11.87 billion, a PE ratio of 36.76, a P/E/G ratio of 1.19 and a beta of 1.09. Regal Rexnord Corporation has a 1-year low of $127.96 and a 1-year high of $247.80.
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 (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.41. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.58 billion. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%.The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company 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 forecast that Regal Rexnord Corporation will post 10.65 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The firm also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 32.56%.
Regal Rexnord Company Profile
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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