Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,905 shares of the company's stock after purchasing an additional 7,341 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 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 modified their holdings of the company. Mesirow Institutional Investment Management Inc. boosted its position in shares of Regal Rexnord by 2.4% during the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 18,805 shares of the company's stock worth $2,917,000 after acquiring an additional 436 shares during the last quarter. MetLife Investment Management LLC raised its stake in Regal Rexnord by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 37,336 shares of the company's stock valued at $5,792,000 after buying an additional 2,947 shares during the last quarter. Forum Financial Management LP boosted its position in Regal Rexnord by 9.0% in the fourth quarter. Forum Financial Management LP now owns 1,977 shares of the company's stock valued at $307,000 after buying an additional 163 shares during the last quarter. Capital International Ltd. CA increased its holdings in shares of Regal Rexnord by 6.8% during the 4th quarter. Capital International Ltd. CA now owns 21,310 shares of the company's stock valued at $3,306,000 after purchasing an additional 1,364 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC increased its holdings in Regal Rexnord by 11.6% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 246,493 shares of the company's stock worth $38,238,000 after acquiring an additional 25,642 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

RRX stock traded up $0.75 during midday trading on Friday, reaching $107.09. 616,492 shares of the company were exchanged, compared to its average volume of 534,201. The business has a 50-day moving average price of $115.28 and a two-hundred day moving average price of $146.79. The firm has a market capitalization 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 Co. has a one year low of $90.56 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX - Get Free Report) last released 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 net margin of 3.25% and a return on equity of 9.57%. Equities research analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a dividend of $0.35 per share. The ex-dividend date was Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.31%. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RRX shares. StockNews.com cut shares of Regal Rexnord from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Barclays cut their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. KeyCorp cut their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup lowered their target price on shares of Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $170.75.

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.