Cibc World Market Inc. bought a new stake in Regal Rexnord Corporation (NYSE:RRX – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,045 shares of the company’s stock, valued at approximately $4,536,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares during the period. Parallel Advisors LLC lifted its stake in shares of Regal Rexnord by 5.6% in the 1st quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock worth $176,000 after purchasing an additional 50 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Regal Rexnord by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after purchasing an additional 60 shares during the period. UMB Bank n.a. boosted its holdings in shares of Regal Rexnord by 6.2% in the fourth quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after buying an additional 60 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in Regal Rexnord by 3.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after buying an additional 65 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on RRX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Friday, July 17th. 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 objective for the company. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Oppenheimer reiterated an “outperform” rating on shares of Regal Rexnord in a research report on Friday, July 10th. Finally, KeyCorp cut their price target on Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average target price of $244.92.
Regal Rexnord Stock Performance
NYSE RRX opened at $162.20 on Wednesday. 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 twelve month low of $127.96 and a twelve month high of $247.80. The business has a 50-day moving average price of $202.19 and a 200-day moving average price of $203.81. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09.
Regal Rexnord (NYSE:RRX – Get Free Report) last issued its 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. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%.The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company earned $2.48 EPS. 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. As a group, equities research analysts predict that Regal Rexnord Corporation will post 10.68 EPS for the current fiscal year.
Regal Rexnord Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord’s payout ratio is 28.87%.
Regal Rexnord 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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