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

California Public Employees Retirement System grew its holdings in Regal Rexnord Corporation (NYSE:RRX) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,113 shares of the company’s stock after acquiring an additional 3,636 shares during the period. California Public Employees Retirement System’s holdings in Regal Rexnord were worth $23,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd raised its stake in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Garner Asset Management Corp bought a new position in Regal Rexnord in the 4th quarter worth approximately $27,000. IFP Advisors Inc boosted its stake in Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after purchasing an additional 49 shares during the period. Geneos Wealth Management Inc. grew its holdings in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Regal Rexnord during the 3rd quarter valued at approximately $35,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 0.8%

Shares of NYSE:RRX opened at $215.02 on Thursday. 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. 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 50-day moving average price of $211.89 and a 200 day moving average price of $199.13.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.15 earnings per share. As a group, equities research analysts predict that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Announces Dividend

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

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares in the company, valued at $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,305 shares of company stock valued at $6,341,869 over the last three months. 0.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RRX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Oppenheimer reiterated an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Regal Rexnord in a report on Monday. They set a “buy” rating and a $286.00 price objective for the company. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, UBS Group set a $260.00 target price on Regal Rexnord in a report on Monday, June 15th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $247.00.

Regal Rexnord Company 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.