Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Regal Rexnord Corporation (NYSE:RRX – Free Report) by 5.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 167,679 shares of the company’s stock after purchasing an additional 8,564 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Regal Rexnord were worth $26,009,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in Regal Rexnord in the second quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Regal Rexnord in the second quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new position in Regal Rexnord in the second quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. acquired a new position in Regal Rexnord during the 2nd quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Regal Rexnord by 60.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 242 shares of the company’s stock worth $45,000 after acquiring an additional 91 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.
Regal Rexnord Stock Performance
Shares of RRX opened at $156.13 on Friday. The company’s 50 day simple moving average is $161.31 and its 200-day simple moving average is $191.70. The firm has a market cap of $10.40 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $247.80. The company has a current ratio of 2.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66.
Regal Rexnord (NYSE:RRX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share 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 firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business earned $2.48 EPS. Regal Rexnord’s quarterly revenue was up 4.2% compared to the same quarter last year. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, equities analysts predict that Regal Rexnord Corporation will post 10.64 EPS for the current year.
Regal Rexnord Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Regal Rexnord’s dividend payout ratio (DPR) is currently 28.87%.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of Regal Rexnord from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer reduced their price objective on shares of Regal Rexnord from $245.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Regal Rexnord from $240.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. KeyCorp lowered their target price on shares of Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen cut Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.50.
Check Out Our Latest Stock Analysis on RRX
Regal Rexnord Profile
Regal Rexnord Corporation is a global manufacturer of industrial power, motion control and automation products. The company supplies electric motors, generators, gearboxes, bearings, couplings, clutches, brakes and related power-transmission equipment used to move, control and manage energy in industrial and commercial applications.
Its product portfolio also includes automation and motion-control technologies, conveyor and material-handling systems, precision components, and solutions designed to improve the efficiency and reliability of machinery.
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