Regal Rexnord Co. (NYSE:RRX) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council raised its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 112.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,353 shares of the company’s stock after acquiring an additional 14,448 shares during the period. South Dakota Investment Council’s holdings in Regal Rexnord were worth $4,049,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $58,000. Global Retirement Partners LLC grew its holdings in shares of Regal Rexnord by 18.5% in the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock valued at $68,000 after purchasing an additional 77 shares in the last quarter. CWM LLC grew its holdings in shares of Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after purchasing an additional 241 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Regal Rexnord by 11,000.0% in the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock valued at $131,000 after purchasing an additional 880 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 1.4 %

Shares of NYSE:RRX opened at $164.39 on Thursday. The firm has a 50 day simple moving average of $169.79 and a 200-day simple moving average of $144.48. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The company has a market capitalization of $10.92 billion, a PE ratio of -188.95, a P/E/G ratio of 1.66 and a beta of 1.14. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.26 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 EPS. On average, equities analysts predict that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.85%. Regal Rexnord’s dividend payout ratio is currently -160.92%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Barclays lifted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Oppenheimer lifted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.00.

Regal Rexnord Company 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.