Teachers Retirement System of The State of Kentucky Buys 7,341 Shares of Regal Rexnord Co. (NYSE:RRX)

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,905 shares of the company's stock after purchasing an additional 7,341 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.12% of Regal Rexnord worth $12,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 137 shares during the period. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord in the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord in the fourth quarter valued at about $33,000. Tobam acquired a new position in Regal Rexnord in the fourth quarter valued at about $45,000. Finally, Jones Financial Companies Lllp raised its stake in Regal Rexnord by 90.5% in 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 in the last quarter. 99.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RRX. The Goldman Sachs Group dropped their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. StockNews.com downgraded Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. KeyCorp lowered their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Oppenheimer cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Finally, Citigroup decreased their price target on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $170.75.

Regal Rexnord Trading Up 0.7 %

Shares of NYSE RRX traded up $0.75 during midday trading on Friday, reaching $107.09. The stock had a trading volume of 616,492 shares, compared to its average volume of 535,910. Regal Rexnord Co. has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company's 50 day moving average price is $114.69 and its 200 day moving average price is $146.12. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a $0.35 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. Regal Rexnord's payout ratio is currently 47.46%.

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.