Regal Rexnord Co. (NYSE:RRX) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,800 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Regal Rexnord were worth $2,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Regal Rexnord during the first quarter worth approximately $33,000. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord in the 1st quarter worth $68,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord during the second quarter worth $52,000. GAMMA Investing LLC purchased a new stake in shares of Regal Rexnord during the fourth quarter valued at $58,000. Finally, Riverview Trust Co acquired a new position in shares of Regal Rexnord in the 1st quarter valued at $75,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

RRX stock opened at $167.90 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The stock has a market cap of $11.17 billion, a P/E ratio of -349.79, a P/E/G ratio of 1.67 and a beta of 1.06. The firm has a 50 day simple moving average of $147.98 and a 200 day simple moving average of $157.05. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company’s revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 earnings per share. Research analysts anticipate that Regal Rexnord Co. will post 9.47 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Wall Street Analysts Forecast Growth

RRX has been the topic of several recent analyst reports. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. KeyCorp decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Barclays decreased their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

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.