Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its stake in Regal Rexnord Co. (NYSE:RRX) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,192 shares of the company’s stock after acquiring an additional 190 shares during the period. Treasurer of the State of North Carolina’s holdings in Regal Rexnord were worth $4,529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its position in Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after purchasing an additional 77 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock worth $332,000 after acquiring an additional 85 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings 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 acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Regal Rexnord by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock valued at $320,000 after purchasing an additional 101 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after purchasing an additional 105 shares during 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 stock opened at $100.28 on Tuesday. The stock’s 50-day moving average price is $121.34 and its 200 day moving average price is $150.21. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $6.65 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Regal Rexnord Co. has a 52-week low of $90.56 and a 52-week high of $185.28.

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

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.40%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday, April 8th. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Barclays cut their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Citigroup dropped their price objective on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Profile

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.