Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,312 shares of the company’s stock after purchasing an additional 158 shares during the quarter. Arizona State Retirement System’s holdings in Regal Rexnord were worth $2,996,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Tobam purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at about $45,000. Jones Financial Companies Lllp lifted its position in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after purchasing an additional 153 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after purchasing an additional 105 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Regal Rexnord by 335.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company’s stock worth $97,000 after buying an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $122.47 on Monday. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 1.37 and a beta of 1.11. The company’s 50-day moving average price is $146.62 and its 200 day moving average price is $159.72. Regal Rexnord Co. has a 52 week low of $117.18 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.14%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Wall Street Analyst Weigh In

RRX has been the topic of a number of analyst reports. Barclays decreased their price target on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Citigroup lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus price target of $197.75.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.