Moore Capital Management LP Purchases New Position in Regal Rexnord Corporation $RRX

Moore Capital Management LP acquired a new position in Regal Rexnord Corporation (NYSE:RRX) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 302,723 shares of the company’s stock, valued at approximately $72,106,000. Regal Rexnord makes up 1.1% of Moore Capital Management LP’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds have also bought and sold shares of the business. Clearstead Trust LLC bought a new position in shares of Regal Rexnord in the second quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Regal Rexnord during the 2nd quarter valued at $27,000. Covestor Ltd lifted its holdings in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Regal Rexnord during the 2nd quarter worth about $43,000. Finally, FNY Investment Advisers LLC bought a new position in Regal Rexnord in the 2nd quarter worth about $43,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RRX has been the subject of a number of recent analyst reports. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Regal Rexnord in a report on Monday, July 20th. They set a “buy” rating and a $286.00 target price on the stock. Finally, KeyCorp lowered their target price on shares of 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $244.92.

Regal Rexnord Stock Performance

NYSE RRX opened at $157.88 on Monday. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-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. The company has a market capitalization of $10.51 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.17 and a beta of 1.09. The company has a fifty day moving average of $198.44 and a 200-day moving average of $202.81.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, August 5th. The company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.41. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%.The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm earned $2.48 earnings per share. The firm’s 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 disclosed 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 28.87%.

About Regal Rexnord

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.