Regal Rexnord Co. (NYSE:RRX) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in shares of Regal Rexnord Co. (NYSE:RRX) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,338 shares of the company’s stock after buying an additional 1,183 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Regal Rexnord were worth $5,527,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Regal Rexnord by 80.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock valued at $75,382,000 after purchasing an additional 226,435 shares during the period. WCM Investment Management LLC grew its position in Regal Rexnord by 56.8% in the fourth quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after buying an additional 52,214 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Regal Rexnord by 13.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock worth $50,649,000 after acquiring an additional 42,110 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Regal Rexnord by 7.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock worth $548,000 after buying an additional 253 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Regal Rexnord by 58.8% in the third quarter. UBS Group AG now owns 90,990 shares of the company’s stock valued at $13,001,000 after purchasing an additional 33,689 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded up $2.14 during trading on Friday, reaching $164.11. 285,168 shares of the stock were exchanged, compared to its average volume of 458,037. 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 Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The stock has a 50-day moving average price of $169.87 and a 200-day moving average price of $144.61.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.64 earnings per share. As a group, analysts expect that Regal Rexnord Co. will post 10.05 earnings per share 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. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

Analyst Upgrades and Downgrades

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

Insider Activity at Regal Rexnord

In related news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord 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 owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock valued at $892,301 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

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.