Teacher Retirement System of Texas Purchases 7,724 Shares of Regal Rexnord Corporation (NYSE:RRX)

Teacher Retirement System of Texas increased its position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 95.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,842 shares of the company's stock after purchasing an additional 7,724 shares during the period. Teacher Retirement System of Texas' holdings in Regal Rexnord were worth $1,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in shares of Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC increased its position in shares of Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp increased its position in shares of Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of analyst reports. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays increased their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird increased their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of "Buy" and an average target price of $185.25.

Regal Rexnord Price Performance

RRX traded down $5.42 during midday trading on Monday, hitting $146.47. The company had a trading volume of 865,530 shares, compared to its average volume of 601,401. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26. The company has a market capitalization of $9.72 billion, a PE ratio of 41.73, a P/E/G ratio of 1.54 and a beta of 1.17. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The firm's 50-day simple moving average is $140.63 and its 200-day simple moving average is $133.64.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The company's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 EPS. Equities research analysts predict that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the transaction, the chief executive officer owned 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.82% of the company's stock.

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.