South Dakota Investment Council Decreases Holdings in Regal Rexnord Co. (NYSE:RRX)

South Dakota Investment Council trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,730 shares of the company’s stock after selling 5,693 shares during the quarter. South Dakota Investment Council’s holdings in Regal Rexnord were worth $3,216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RRX. Creative Planning raised its position in shares of Regal Rexnord by 11.6% during the 3rd quarter. Creative Planning now owns 3,131 shares of the company’s stock valued at $519,000 after buying an additional 326 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Regal Rexnord by 87,585.7% during the 3rd quarter. International Assets Investment Management LLC now owns 6,138 shares of the company’s stock valued at $1,018,000 after buying an additional 6,131 shares in the last quarter. Tectonic Advisors LLC raised its position in shares of Regal Rexnord by 9.4% during the 3rd quarter. Tectonic Advisors LLC now owns 1,987 shares of the company’s stock valued at $330,000 after buying an additional 170 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Regal Rexnord by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,714 shares of the company’s stock valued at $1,279,000 after buying an additional 520 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Regal Rexnord by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after buying an additional 95 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $134.50 on Monday. 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’s 50 day simple moving average is $152.87 and its 200-day simple moving average is $161.76. Regal Rexnord Co. has a one year low of $130.94 and a one year high of $185.28. The firm has a market cap of $8.91 billion, a PE ratio of 45.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. As a group, equities analysts predict 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $197.75.

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.