Regal Rexnord Co. (NYSE:RRX) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lowered its stake in Regal Rexnord Co. (NYSE:RRX) by 21.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,730 shares of the company’s stock after selling 5,693 shares during the period. South Dakota Investment Council’s holdings in Regal Rexnord were worth $3,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam purchased a new position in shares of Regal Rexnord in the fourth quarter worth $45,000. Nomura Asset Management Co. Ltd. increased its holdings in Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after buying an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. increased its holdings in Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares in the last quarter. GAMMA Investing LLC increased its holdings in Regal Rexnord by 28.3% in the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock valued at $167,000 after buying an additional 238 shares in the last quarter. Finally, Weatherly Asset Management L. P. purchased a new position in Regal Rexnord in the third quarter valued at $180,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RRX shares. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $197.75.

Regal Rexnord Stock Performance

RRX opened at $134.50 on Monday. The firm has a market capitalization of $8.91 billion, a PE ratio of 45.59, a PEG ratio of 1.37 and a beta of 1.03. Regal Rexnord Co. has a twelve month low of $130.94 and a twelve month high of $185.28. The firm’s 50-day moving average price is $152.87 and its 200 day moving average price is $161.76. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results 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, sell-side analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. Regal Rexnord’s payout ratio is presently 47.46%.

Regal Rexnord Company 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.