Regal Rexnord Co. (NYSE:RRX) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund cut its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 13,449 shares of the company’s stock after selling 100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Regal Rexnord were worth $2,086,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RRX. Tobam acquired a new position in Regal Rexnord during the fourth quarter worth $45,000. Nomura Asset Management Co. Ltd. raised its position in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC raised its position in Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock worth $167,000 after acquiring an additional 238 shares during the period. Weatherly Asset Management L. P. acquired a new position in Regal Rexnord during the third quarter worth $180,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Regal Rexnord in the third quarter valued at about $209,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Down 0.4 %

Shares of RRX opened at $129.45 on Friday. 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 12-month low of $127.67 and a 12-month high of $185.28. The firm has a 50-day moving average price of $150.66 and a 200 day moving average price of $161.05. The firm has a market capitalization of $8.57 billion, a P/E ratio of 43.88, a P/E/G ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last announced its 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 return on equity of 9.57% and a net margin of 3.25%. Sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RRX shares. Robert W. Baird reduced their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Barclays reduced their target price on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.75.

About Regal Rexnord

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.