Regal Rexnord Co. (NYSE:RRX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of Regal Rexnord Co. (NYSE:RRXGet Rating) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,410 shares of the company’s stock after selling 5,349 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Regal Rexnord worth $15,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in Regal Rexnord during the first quarter valued at $25,000. CWM LLC lifted its holdings in Regal Rexnord by 63.0% during the second quarter. CWM LLC now owns 225 shares of the company’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Regal Rexnord during the first quarter valued at $30,000. Huntington National Bank purchased a new position in Regal Rexnord during the first quarter valued at $32,000. Finally, Artemis Wealth Advisors LLC purchased a new position in Regal Rexnord during the second quarter valued at $33,000. Institutional investors and hedge funds own 97.00% of the company’s stock.

Regal Rexnord Stock Performance

NYSE:RRX opened at $129.76 on Friday. The company’s 50-day moving average price is $139.04 and its 200-day moving average price is $131.25. The company has a current ratio of 2.89, a quick ratio of 1.60 and a debt-to-equity ratio of 0.35. The company has a market cap of $8.58 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.24 and a beta of 1.06. Regal Rexnord Co. has a twelve month low of $108.28 and a twelve month high of $176.91.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, December 29th. Regal Rexnord’s dividend payout ratio (DPR) is presently 24.56%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Regal Rexnord in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Robert W. Baird decreased their price objective on shares of Regal Rexnord from $174.00 to $167.00 in a report on Wednesday, November 2nd. Barclays increased their price objective on shares of Regal Rexnord from $140.00 to $157.00 in a report on Wednesday, August 3rd. KeyCorp raised their price target on shares of Regal Rexnord from $155.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $165.00 to $187.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th.

Regal Rexnord Company Profile

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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

Further Reading

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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