Regal Rexnord Corporation $RRX Shares Newly Bought by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,079 shares of the company’s stock, valued at approximately $667,000.

Several other hedge funds have also modified their holdings of RRX. BlackRock Inc. acquired a new position in Regal Rexnord during the 2nd quarter worth $1,477,356,000. Wellington Management Group LLP increased its stake in shares of Regal Rexnord by 75.8% in the 2nd quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company’s stock valued at $615,496,000 after buying an additional 1,113,888 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Regal Rexnord during the second quarter worth $449,281,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Regal Rexnord during the second quarter worth $254,637,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Regal Rexnord during the second quarter worth $212,260,000. 99.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

RRX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft started coverage on Regal Rexnord in a research note on Monday, July 20th. They set a “buy” rating and a $286.00 price target on the stock. The Goldman Sachs Group set a $216.00 price objective on Regal Rexnord in a research report on Wednesday, September 30th. Oppenheimer dropped their price objective on Regal Rexnord from $245.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 8th. Citigroup cut their target price 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, October 12th. Finally, Wolfe Research set a $250.00 target price on shares of Regal Rexnord in a research report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.50.

Regal Rexnord Trading Up 1.4%

RRX traded up $2.16 during trading on Monday, reaching $156.17. 299,274 shares of the company’s stock were exchanged, compared to its average volume of 1,142,675. The company’s fifty day moving average price is $160.83 and its 200-day moving average price is $191.53. 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 Corporation has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The firm has a market capitalization of $10.40 billion, a PE ratio of 32.20, a P/E/G ratio of 1.23 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, August 5th. The company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.58 by $0.41. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 EPS. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, equities analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current year.

About Regal Rexnord

Regal Rexnord Corporation is an industrial manufacturing company that develops and produces electric motors, power transmission components, motion-control systems and other equipment used in industrial and commercial applications. Its products include motors, gearboxes, bearings, couplings, belts, chains, drives, clutches, brakes and related controls, as well as air-moving and power-management solutions.

The company serves customers across industries such as automation, material handling, food and beverage, renewable energy, heating and ventilation, agriculture, and general industrial production.