Teachers Retirement System of The State of Kentucky Invests $1.30 Million in Regal Rexnord Co. (NYSE:RRX)

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Regal Rexnord Co. (NYSE:RRXGet Rating) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 8,757 shares of the company’s stock, valued at approximately $1,303,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. acquired a new stake in Regal Rexnord in the first quarter worth approximately $978,777,000. BlackRock Inc. acquired a new stake in Regal Rexnord in the first quarter worth approximately $843,575,000. Capital World Investors acquired a new stake in Regal Rexnord in the first quarter worth approximately $793,975,000. Massachusetts Financial Services Co. MA acquired a new stake in Regal Rexnord in the first quarter worth approximately $389,416,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Regal Rexnord in the first quarter worth approximately $333,305,000. 97.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Regal Rexnord

In other news, insider John C. Kunze sold 1,155 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $136.88, for a total value of $158,096.40. Following the transaction, the insider now directly owns 6,920 shares of the company’s stock, valued at $947,209.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $141.75 on Friday. The company’s fifty day moving average is $137.74 and its two-hundred day moving average is $133.68. The company has a quick ratio of 1.52, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. Regal Rexnord Co. has a 12-month low of $108.28 and a 12-month high of $176.91. The company has a market cap of $9.42 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23.

Regal Rexnord (NYSE:RRXGet Rating) last announced its earnings results on Monday, August 1st. The company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.14. Regal Rexnord had a net margin of 6.99% and a return on equity of 11.15%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $2.28 EPS. The company’s revenue was up 52.1% on a year-over-year basis. Equities analysts expect that Regal Rexnord Co. will post 10.7 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, September 29th. Regal Rexnord’s dividend payout ratio (DPR) is presently 25.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RRX shares. Barclays upped their target price on Regal Rexnord from $140.00 to $157.00 in a research report on Wednesday, August 3rd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Friday, July 8th. Robert W. Baird upped their price target on Regal Rexnord from $146.00 to $158.00 in a report on Wednesday, August 3rd. KeyCorp upped their price target on Regal Rexnord from $155.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, August 23rd. Finally, The Goldman Sachs Group upped their price target on Regal Rexnord from $165.00 to $187.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $173.40.

About Regal Rexnord

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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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