Retirement Systems of Alabama Sells 304 Shares of Regal Rexnord Co. (NYSE:RRX)

Retirement Systems of Alabama trimmed its holdings in Regal Rexnord Co. (NYSE:RRX) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,627 shares of the company’s stock after selling 304 shares during the quarter. Retirement Systems of Alabama owned 0.23% of Regal Rexnord worth $23,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc boosted its holdings in Regal Rexnord by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares during the period. Hengehold Capital Management LLC raised its position in shares of Regal Rexnord by 1.5% during the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after buying an additional 65 shares during the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the period. iA Global Asset Management Inc. grew its position in Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after buying an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RRX. Citigroup reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Robert W. Baird reduced their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Barclays lowered their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Regal Rexnord Trading Down 0.1 %

NYSE:RRX opened at $154.74 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 48.81, a PEG ratio of 1.53 and a beta of 1.03. The business’s 50-day moving average price is $161.01 and its two-hundred day moving average price is $163.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. On average, equities analysts expect that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.90%. Regal Rexnord’s dividend payout ratio is 44.16%.

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.