Regal Rexnord Co. (NYSE:RRX) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) by 141.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,118 shares of the company's stock after purchasing an additional 4,758 shares during the quarter. Teacher Retirement System of Texas' holdings in Regal Rexnord were worth $1,259,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Regal Rexnord by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company's stock valued at $71,623,000 after buying an additional 4,752 shares in the last quarter. Cerity Partners LLC lifted its holdings in Regal Rexnord by 11.7% during the third quarter. Cerity Partners LLC now owns 2,632 shares of the company's stock valued at $436,000 after purchasing an additional 276 shares in the last quarter. Townsquare Capital LLC purchased a new position in Regal Rexnord during the third quarter valued at $267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company's stock valued at $213,971,000 after purchasing an additional 83,823 shares during the period. Finally, PEAK6 Investments LLC purchased a new stake in shares of Regal Rexnord during the third quarter worth about $1,557,000. 99.72% of the stock is owned by institutional investors and hedge funds.

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Regal Rexnord Trading Up 6.2 %

Shares of NYSE RRX traded up $7.08 during trading on Wednesday, hitting $121.80. 764,046 shares of the company were exchanged, compared to its average volume of 494,381. The company has a fifty day moving average price of $133.45 and a 200-day moving average price of $154.90. 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 firm has a market capitalization of $8.07 billion, a PE ratio of 41.29, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12-month low of $111.15 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its 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%. As a group, equities research analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.15%. Regal Rexnord's payout ratio is 47.46%.

Analysts Set New Price Targets

Several research firms recently issued reports on RRX. Barclays lowered their price objective on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Oppenheimer lowered 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. Citigroup dropped their price target 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. The Goldman Sachs Group decreased their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord has an average rating of "Moderate Buy" and a consensus target price of $188.88.

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.