Illinois Municipal Retirement Fund grew its position in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 35.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,846 shares of the company's stock after purchasing an additional 2,594 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Regal Rexnord were worth $1,527,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Creative Planning raised its holdings in Regal Rexnord by 11.6% during the 3rd quarter. Creative Planning now owns 3,131 shares of the company's stock valued at $519,000 after buying an additional 326 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Regal Rexnord by 87,585.7% in the 3rd quarter. International Assets Investment Management LLC now owns 6,138 shares of the company's stock worth $1,018,000 after buying an additional 6,131 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Regal Rexnord by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 7,714 shares of the company's stock valued at $1,279,000 after acquiring an additional 520 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Regal Rexnord by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company's stock valued at $601,000 after purchasing an additional 95 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $272,000. 99.72% of the stock is owned by hedge funds and other institutional investors.
Regal Rexnord Trading Up 3.5 %
Shares of RRX traded up $4.16 during trading hours on Wednesday, reaching $124.17. 610,596 shares of the company traded hands, compared to its average volume of 620,955. Regal Rexnord Co. has a 12-month low of $117.18 and a 12-month high of $185.28. The stock's fifty day moving average price is $148.71 and its 200 day moving average price is $160.48. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.37 and a beta of 1.03. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.
Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. Sell-side analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. Regal Rexnord's payout ratio is currently 47.46%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on RRX. The Goldman Sachs Group boosted their price objective 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 decreased their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Barclays cut their target price on Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective on the stock. Finally, StockNews.com downgraded shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Regal Rexnord presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.75.
Read Our Latest Analysis on RRX
Regal Rexnord Company Profile
(
Free Report)
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.
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