Retirement Systems of Alabama Acquires 7,935 Shares of Regal Rexnord Co. (NYSE:RRX)

Retirement Systems of Alabama grew its stake in Regal Rexnord Co. (NYSE:RRX) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,126 shares of the company’s stock after purchasing an additional 7,935 shares during the period. Retirement Systems of Alabama’s holdings in Regal Rexnord were worth $23,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $58,000. CWM LLC increased its holdings in shares of Regal Rexnord by 48.5% during the fourth quarter. CWM LLC now owns 738 shares of the company’s stock worth $109,000 after buying an additional 241 shares in the last quarter. Global Retirement Partners LLC grew its position in Regal Rexnord by 63.9% during the 4th quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock worth $109,000 after acquiring an additional 315 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Regal Rexnord by 11,000.0% during the 4th quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after purchasing an additional 880 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the transaction, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock valued at $892,301 over the last three months. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays boosted their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. KeyCorp increased their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer raised their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.00.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $166.26 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. Regal Rexnord Co. has a 1-year low of $97.18 and a 1-year high of $183.85. The business has a 50-day moving average price of $170.03 and a two-hundred day moving average price of $145.14.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. Regal Rexnord’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, equities research analysts expect that Regal Rexnord Co. will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.84%. Regal Rexnord’s dividend payout ratio is currently -160.92%.

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.