Strs Ohio Has $1.44 Million Stock Position in Regal Rexnord Corporation $RRX

by · The Cerbat Gem

Strs Ohio lowered its position in shares of Regal Rexnord Corporation (NYSE:RRX – Free Report) by 82.6% in the second quarter, Holdings Channel reports. The institutional investor owned 9,931 shares of the company’s stock after selling 47,069 shares during the period. Strs Ohio’s holdings in Regal Rexnord were worth $1,440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of RRX. Nordea Investment Management AB acquired a new stake in shares of Regal Rexnord during the second quarter worth $224,889,000. Nuveen LLC acquired a new stake in shares of Regal Rexnord during the first quarter worth $117,996,000. Invesco Ltd. lifted its holdings in shares of Regal Rexnord by 76.3% during the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock worth $106,203,000 after buying an additional 403,845 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Regal Rexnord by 30.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after buying an additional 396,737 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Regal Rexnord by 11.9% during the first quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company’s stock worth $277,435,000 after buying an additional 259,885 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $137.55 on Thursday. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $143.87 and its two-hundred day moving average price is $141.26. The stock has a market cap of $9.13 billion, a PE ratio of 35.54, a P/E/G ratio of 1.52 and a beta of 1.16.

Regal Rexnord (NYSE:RRX – Get Free Report) last released its earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a return on equity of 9.75% and a net margin of 4.38%.The firm had revenue of $1.85 billion for the quarter. As a group, analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is currently 36.18%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Robert W. Baird set a $212.00 price target on Regal Rexnord in a research report on Friday, October 31st. KeyCorp decreased their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, JPMorgan Chase & Co. decreased their price target on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.63.

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Regal Rexnord Profile

(Free Report)

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.

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