California Public Employees Retirement System Acquires 3,636 Shares of Regal Rexnord Corporation $RRX

California Public Employees Retirement System increased its holdings in Regal Rexnord Corporation (NYSE:RRX) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,113 shares of the company’s stock after acquiring an additional 3,636 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Regal Rexnord worth $23,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of RRX. Covestor Ltd lifted its holdings in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Garner Asset Management Corp bought a new stake in Regal Rexnord in the fourth quarter worth $27,000. IFP Advisors Inc grew its stake in shares of Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Regal Rexnord during the third quarter valued at $35,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRX. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Citigroup raised their price target on shares of Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. DA Davidson began coverage on Regal Rexnord in a report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Regal Rexnord in a report on Monday. They set a “buy” rating and a $286.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.00.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the sale, the chief financial officer owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This trade represents a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,305 shares of company stock worth $6,341,869. Corporate insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Performance

RRX opened at $215.02 on Thursday. The company’s 50 day moving average is $211.89 and its 200 day moving average is $199.13. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 2.00 and a beta of 1.08. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $247.80.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.15 earnings per share. On average, equities research analysts predict that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord’s payout ratio is 32.56%.

Regal Rexnord Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.