New York State Teachers Retirement System Lowers Stake in Regal Rexnord Corporation $RRX

New York State Teachers Retirement System decreased its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 64,459 shares of the company’s stock after selling 7,048 shares during the period. New York State Teachers Retirement System’s holdings in Regal Rexnord were worth $9,045,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord during the 3rd quarter worth $27,000. Root Financial Partners LLC acquired a new stake in shares of Regal Rexnord during the third quarter worth $28,000. SJS Investment Consulting Inc. grew its position in shares of Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after purchasing an additional 97 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Regal Rexnord in the third quarter valued at $35,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total transaction of $810,000.00. Following the completion of the sale, the director directly owned 15,617 shares in the company, valued at $2,811,060. The trade was a 22.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Louis V. Pinkham sold 36,728 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the completion of the sale, the chief executive officer directly owned 83,337 shares of the company’s stock, valued at $17,960,790.24. The trade was a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 53,451 shares of company stock worth $11,386,689. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RRX. KeyCorp increased their target price on Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Robert W. Baird set a $253.00 price target on Regal Rexnord in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.75.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $212.72 on Tuesday. The business’s fifty day moving average price is $200.32 and its 200 day moving average price is $170.99. Regal Rexnord Corporation has a twelve month low of $109.50 and a twelve month high of $229.30. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $14.16 billion, a P/E ratio of 50.65, a PEG ratio of 1.99 and a beta of 1.15.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 earnings per share. As a group, research analysts anticipate that Regal Rexnord Corporation will post 10.73 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is 33.33%.

Regal Rexnord Profile

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.