Police & Firemen s Retirement System of New Jersey Raises Holdings in Regal Rexnord Corporation $RRX

Police & Firemen s Retirement System of New Jersey raised its stake in Regal Rexnord Corporation (NYSE:RRX) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,170 shares of the company’s stock after purchasing an additional 1,183 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Regal Rexnord were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of Regal Rexnord during the second quarter worth approximately $224,889,000. Nuveen LLC purchased a new stake in shares of Regal Rexnord during the 1st quarter worth $117,996,000. Invesco Ltd. lifted its position in shares of Regal Rexnord by 76.3% during the 1st quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock worth $106,203,000 after purchasing an additional 403,845 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Regal Rexnord by 30.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after purchasing an additional 396,737 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in Regal Rexnord in the first quarter valued at $25,678,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $137.36 on Monday. The firm’s fifty day simple moving average is $142.25 and its 200-day simple moving average is $143.08. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $182.70. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 1.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The company had revenue of $1.85 billion for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. As a group, equities analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is 36.18%.

Wall Street Analysts Forecast Growth

RRX has been the topic of several research analyst reports. Robert W. Baird set a $212.00 target price on Regal Rexnord in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Zacks Research downgraded shares of Regal Rexnord from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Barclays reiterated an “overweight” rating and set a $165.00 price target on shares of Regal Rexnord in a research note on Monday, November 3rd. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.63.

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.