Regal Rexnord Co. (NYSE:RRX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Regal Rexnord Co. (NYSE:RRX) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,271 shares of the company’s stock after selling 827 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Regal Rexnord were worth $4,192,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Regal Rexnord in the second quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new position in shares of Regal Rexnord in the 2nd quarter valued at about $52,000. UMB Bank n.a. raised its holdings in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares during the period. EntryPoint Capital LLC purchased a new position in Regal Rexnord during the first quarter worth approximately $68,000. Finally, GAMMA Investing LLC grew its holdings in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Regal Rexnord Price Performance

NYSE:RRX opened at $170.58 on Wednesday. The stock has a 50 day moving average price of $166.46 and a 200 day moving average price of $156.63. The stock has a market cap of $11.30 billion, a PE ratio of 53.81, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.38 and a current ratio of 2.45. Regal Rexnord Co. has a one year low of $108.64 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities research analysts expect that Regal Rexnord Co. will post 9.2 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RRX shares. Barclays increased their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Citigroup initiated coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Robert W. Baird decreased their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.00.

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.