Teachers Retirement System of The State of Kentucky Buys New Shares in Regal Rexnord Co. (NYSE:RRX)

Teachers Retirement System of The State of Kentucky bought a new stake in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 68,613 shares of the company’s stock, valued at approximately $9,630,000. Teachers Retirement System of The State of Kentucky owned 0.10% of Regal Rexnord as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RRX. Vanguard Group Inc. acquired a new position in shares of Regal Rexnord during the 1st quarter valued at $978,777,000. Capital World Investors acquired a new position in shares of Regal Rexnord during the 1st quarter valued at $793,975,000. State Street Corp bought a new stake in Regal Rexnord during the 1st quarter valued at $266,837,000. Clearbridge Investments LLC bought a new stake in Regal Rexnord during the 1st quarter valued at $154,043,000. Finally, Wellington Management Group LLP bought a new stake in Regal Rexnord during the 1st quarter valued at $143,144,000. Institutional investors and hedge funds own 99.98% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $141.75 on Friday. Regal Rexnord Co. has a 1 year low of $108.28 and a 1 year high of $164.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.99 and a quick ratio of 1.66. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.41 and a beta of 1.08. The company has a fifty day moving average price of $147.72 and a 200-day moving average price of $138.18.

Regal Rexnord (NYSE:RRX – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.34. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. Regal Rexnord had a net margin of 9.37% and a return on equity of 11.36%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 EPS. As a group, equities research analysts predict that Regal Rexnord Co. will post 10.52 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 30th. Regal Rexnord’s dividend payout ratio (DPR) is currently 19.18%.

Analysts Set New Price Targets

A number of brokerages have commented on RRX. Oppenheimer boosted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Barclays boosted their price target on shares of Regal Rexnord from $148.00 to $185.00 in a research note on Sunday, February 5th. StockNews.com began coverage on shares of Regal Rexnord in a research note on Thursday. They set a “buy” rating for the company. Robert W. Baird boosted their price target on shares of Regal Rexnord from $167.00 to $188.00 in a research note on Friday, February 3rd. Finally, KeyCorp upped their target price on shares of Regal Rexnord from $172.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $186.80.

Regal Rexnord Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.