Teachers Retirement System of The State of Kentucky purchased a new position in Regal Rexnord Co. (NYSE:RRX – Get Rating) during the third quarter, HoldingsChannel.com reports. The fund purchased 68,613 shares of the company’s stock, valued at approximately $9,630,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of RRX. US Bancorp DE purchased a new stake in shares of Regal Rexnord in the first quarter worth about $702,000. Citigroup Inc. bought a new position in shares of Regal Rexnord in the first quarter worth approximately $3,124,000. AlphaCrest Capital Management LLC bought a new position in shares of Regal Rexnord in the first quarter worth approximately $347,000. Great West Life Assurance Co. Can bought a new position in shares of Regal Rexnord in the first quarter worth approximately $5,758,000. Finally, Synovus Financial Corp bought a new position in shares of Regal Rexnord in the first quarter worth approximately $1,608,000. 99.98% of the stock is owned by hedge funds and other institutional investors.
Regal Rexnord Stock Up 1.6 %
Shares of Regal Rexnord stock opened at $141.75 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.66 and a current ratio of 2.99. Regal Rexnord Co. has a 52-week low of $108.28 and a 52-week high of $164.15. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.41 and a beta of 1.08. The company’s 50 day moving average price is $147.72 and its 200-day moving average price is $138.18.
Regal Rexnord Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 30th. Regal Rexnord’s dividend payout ratio is 19.18%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on RRX shares. KeyCorp upped their price objective on shares of Regal Rexnord from $172.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. StockNews.com began coverage on shares of Regal Rexnord in a research report on Thursday. They issued a “buy” rating on the stock. Wolfe Research cut shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 1st. Barclays increased their price target on shares of Regal Rexnord from $148.00 to $185.00 in a research report on Sunday, February 5th. Finally, Robert W. Baird increased their price target on shares of Regal Rexnord from $167.00 to $188.00 in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.80.
Regal Rexnord Company Profile
Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.
- Get a free copy of the StockNews.com research report on Regal Rexnord (RRX)
- Don’t Miss Out: $2 Trillion Could be Headed to the Banking Sector
- A Weakening Economy Suggests Caution Before Buying Five Below
- Williams-Sonoma: Time To Buy At Rock-Bottom Prices
- Why DraftKings Could Keep Outperforming in 2023
- Charles Schwab And The Safest 30% You Can Make This Year
Want to see what other hedge funds are holding RRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Rexnord Co. (NYSE:RRX – Get Rating).
Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.