New York State Teachers Retirement System Trims Position in Regal Rexnord Corporation $RRX

Key Points

• New York State Teachers Retirement System reduced its stake in Regal Rexnord by 9.9% in Q4 and now holds 64,459 shares worth about $9.05 million (≈0.10% of the company).
• Insiders have sold a total of 53,451 shares worth $11.39 million in the last 90 days, and corporate insiders now own just 0.63% of the stock, indicating notable insider selling.
• Analysts are largely bullish—seven Buys and three Holds—with an average price target near $229.75, after quarterly EPS slightly beat expectations and the stock trades close to its 52‑week high.

New York State Teachers Retirement System decreased its holdings in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing 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 owned approximately 0.10% of Regal Rexnord worth $9,045,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RRX. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord in the 3rd quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new stake in shares of Regal Rexnord during the third quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its stake in shares of Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company's stock worth $29,000 after purchasing an additional 97 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Regal Rexnord in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Buying and Selling

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of the firm's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares of the company's stock, valued at approximately $2,851,734.87. This trade represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Curtis W. Stoelting sold 4,500 shares of the business's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the transaction, the director directly owned 15,617 shares of the company's stock, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 in the last 90 days. Corporate insiders own 0.63% of the company's stock.

Wall Street Analysts Forecast Growth

RRX has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Citigroup boosted their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Oppenheimer increased their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Finally, KeyCorp raised their price objective on shares of Regal Rexnord from $200.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $229.75.

Regal Rexnord Stock Performance

NYSE:RRX opened at $212.72 on Tuesday. 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 firm has a 50-day moving average price of $200.32 and a two-hundred day moving average price of $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 market capitalization of $14.16 billion, a P/E ratio of 50.65, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

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

Regal Rexnord Dividend Announcement

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

Want to see what other hedge funds are holding RRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Rexnord Corporation (NYSE:RRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.