Strs Ohio Decreases Holdings in Regal Rexnord Corporation $RRX

Strs Ohio reduced its position in Regal Rexnord Corporation (NYSE:RRX) by 84.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,579 shares of the company’s stock after selling 8,352 shares during the period. Strs Ohio’s holdings in Regal Rexnord were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings 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. Allworth Financial LP grew its position in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Regal Rexnord in the 3rd quarter worth $28,000. SJS Investment Consulting Inc. raised its holdings in Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Regal Rexnord by 216.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 272 shares of the company’s stock worth $39,000 after purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE:RRX opened at $169.90 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $11.28 billion, a P/E ratio of 43.90, a P/E/G ratio of 1.50 and a beta of 1.12. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $170.78. The business’s 50-day moving average is $149.72 and its 200 day moving average is $146.21.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s payout ratio is currently 36.18%.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the transaction, the chief executive officer owned 103,262 shares in the company, valued at $15,096,904.40. This trade represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on RRX shares. KeyCorp upped their price target on Regal Rexnord from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. decreased their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Citigroup lifted their price target on shares of Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Finally, Barclays restated an “overweight” rating and set a $165.00 target price on shares of Regal Rexnord in a research note on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $180.25.

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.