Oregon Public Employees Retirement Fund Sells 100 Shares of Regal Rexnord Co. (NYSE:RRX)

Oregon Public Employees Retirement Fund lessened its position in shares of Regal Rexnord Co. (NYSE:RRX) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,449 shares of the company’s stock after selling 100 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Regal Rexnord were worth $2,086,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp grew its position in Regal Rexnord by 1.3% during the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Regal Rexnord by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares during the last quarter. Franklin Resources Inc. grew its position in Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Regal Rexnord by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock worth $188,729,000 after purchasing an additional 12,301 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

RRX opened at $129.45 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a fifty day moving average price of $150.66 and a 200 day moving average price of $161.05. Regal Rexnord Co. has a 1 year low of $127.67 and a 1 year high of $185.28. The stock has a market cap of $8.57 billion, a P/E ratio of 43.88, a P/E/G ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Equities research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

RRX has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Barclays dropped their price objective on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.75.

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.