K2 Principal Fund L.P. Acquires New Holdings in Regal Rexnord Corporation $RRX

K2 Principal Fund L.P. bought a new stake in Regal Rexnord Corporation (NYSE:RRXFree Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $953,000.

Several other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Regal Rexnord during the second quarter valued at about $1,477,356,000. Bank of New York Mellon Corp acquired a new position in shares of Regal Rexnord in the 2nd quarter worth approximately $449,281,000. Victory Capital Management Inc. boosted its position in shares of Regal Rexnord by 42.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock worth $793,983,000 after purchasing an additional 1,690,264 shares during the period. Bessemer Group Inc. boosted its position in shares of Regal Rexnord by 4,155.4% during the 1st quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock worth $171,541,000 after purchasing an additional 894,527 shares during the period. Finally, Norges Bank acquired a new stake in Regal Rexnord in the 4th quarter valued at approximately $121,301,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. This trade 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 at this hyperlink. 0.63% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. DA Davidson began coverage on Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price target for the company. Citigroup lifted 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. Deutsche Bank Aktiengesellschaft started coverage on Regal Rexnord in a report on Monday, July 20th. They issued a “buy” rating and a $286.00 price objective on the stock. Finally, KeyCorp decreased their target price on Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.92.

Read Our Latest Analysis on RRX

Regal Rexnord Stock Down 1.3%

RRX stock opened at $172.25 on Wednesday. The company’s 50 day moving average price is $206.95 and its 200 day moving average price is $203.92. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 1.31 and a beta of 1.09. 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 quick ratio of 1.16 and a current ratio of 2.28.

Regal Rexnord (NYSE:RRXGet Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.41. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. On average, equities research analysts anticipate that Regal Rexnord Corporation will post 10.68 EPS for the current fiscal 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 issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is 28.87%.

Regal Rexnord Profile

(Free Report)

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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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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