Louisiana State Employees Retirement System Makes New Investment in Regal Rexnord Co. (NYSE:RRX)

Louisiana State Employees Retirement System bought a new position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,600 shares of the company's stock, valued at approximately $2,753,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC increased its position in Regal Rexnord by 18.5% during the third quarter. Global Retirement Partners LLC now owns 493 shares of the company's stock worth $68,000 after buying an additional 77 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Regal Rexnord by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 3,577 shares of the company's stock worth $551,000 after purchasing an additional 77 shares in the last quarter. Janiczek Wealth Management LLC grew its holdings in shares of Regal Rexnord by 45.4% during the 3rd quarter. Janiczek Wealth Management LLC now owns 282 shares of the company's stock worth $40,000 after purchasing an additional 88 shares in the last quarter. Toroso Investments LLC increased its position in shares of Regal Rexnord by 6.5% in the third quarter. Toroso Investments LLC now owns 1,463 shares of the company's stock worth $209,000 after purchasing an additional 89 shares during the period. Finally, Snowden Capital Advisors LLC lifted its holdings in shares of Regal Rexnord by 2.4% during the 1st quarter. Snowden Capital Advisors LLC now owns 3,766 shares of the company's stock worth $530,000 after acquiring an additional 89 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares of the company's stock, valued at $2,451,536.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now directly 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. In the last 90 days, insiders have sold 5,570 shares of company stock worth $892,301. Company insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, March 13th. Barclays boosted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Finally, KeyCorp raised their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of "Moderate Buy" and an average target price of $197.00.

Regal Rexnord Trading Up 0.2 %

NYSE RRX traded up $0.25 during trading on Tuesday, hitting $162.78. 309,750 shares of the company's stock traded hands, compared to its average volume of 458,575. The stock has a fifty day moving average of $167.85 and a two-hundred day moving average of $143.36. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The firm has a market cap of $10.81 billion, a P/E ratio of -187.33, a PEG ratio of 1.62 and a beta of 1.14. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the prior year, the company earned $2.64 earnings per share. The business's revenue was up 29.2% compared to the same quarter last year. As a group, sell-side analysts expect that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 0.86%. Regal Rexnord's payout ratio is -160.92%.

About Regal Rexnord

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.