New York State Common Retirement Fund Has $5.26 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

New York State Common Retirement Fund lowered its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,920 shares of the company's stock after selling 2,000 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Regal Rexnord worth $5,262,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RRX. Point72 Asset Management L.P. acquired a new stake in Regal Rexnord during the 3rd quarter worth $83,460,000. Westfield Capital Management Co. LP raised its stake in Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company's stock worth $162,483,000 after buying an additional 399,649 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock worth $213,971,000 after buying an additional 83,823 shares during the period. Franklin Resources Inc. raised its stake in Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after buying an additional 77,215 shares during the period. Finally, Jennison Associates LLC raised its stake in Regal Rexnord by 33.9% during the 4th quarter. Jennison Associates LLC now owns 175,702 shares of the company's stock worth $27,257,000 after buying an additional 44,447 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

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Regal Rexnord Stock Down 4.8 %

Shares of NYSE RRX traded down $6.21 during mid-day trading on Monday, hitting $123.19. The company had a trading volume of 386,595 shares, compared to its average volume of 606,831. The company has a market capitalization of $8.16 billion, a PE ratio of 41.74, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The firm has a 50-day simple moving average of $150.13 and a two-hundred day simple moving average of $160.99. 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 Co. has a one year low of $122.03 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, equities analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

RRX has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. StockNews.com downgraded Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Barclays dropped their price target on Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Oppenheimer dropped their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $197.75.

Regal Rexnord 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.