Regal Rexnord Corporation $RRX Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 154,177 shares of the company’s stock after acquiring an additional 470 shares during the period. Retirement Systems of Alabama’s holdings in Regal Rexnord were worth $22,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RRX. Teacher Retirement System of Texas boosted its position in shares of Regal Rexnord by 95.1% during the first quarter. Teacher Retirement System of Texas now owns 15,842 shares of the company’s stock worth $1,804,000 after buying an additional 7,724 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Regal Rexnord by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company’s stock worth $1,543,000 after buying an additional 100 shares during the period. Greenleaf Trust raised its holdings in Regal Rexnord by 2.1% during the first quarter. Greenleaf Trust now owns 5,187 shares of the company’s stock worth $591,000 after purchasing an additional 105 shares in the last quarter. Regents Gate Capital LLP acquired a new stake in Regal Rexnord in the first quarter worth approximately $2,211,000. Finally, State of Michigan Retirement System lifted its position in Regal Rexnord by 1.3% in the first quarter. State of Michigan Retirement System now owns 15,901 shares of the company’s stock worth $1,810,000 after purchasing an additional 200 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRX has been the topic of several research analyst reports. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research report on Friday. KeyCorp lowered their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lowered their price target on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday. Barclays lowered their price target on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.13.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $140.81 on Friday. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28. The stock has a fifty day moving average of $144.82 and a 200-day moving average of $140.16. The company has a market capitalization of $9.35 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00.

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

Regal Rexnord Dividend Announcement

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

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.