State of Alaska Department of Revenue Trims Stake in Regal Rexnord Co. (NYSE:RRX)

State of Alaska Department of Revenue reduced its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,554 shares of the company’s stock after selling 160 shares during the quarter. State of Alaska Department of Revenue’s holdings in Regal Rexnord were worth $1,171,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Tectonic Advisors LLC raised its position in Regal Rexnord by 26.0% during the fourth quarter. Tectonic Advisors LLC now owns 2,504 shares of the company’s stock valued at $388,000 after acquiring an additional 517 shares in the last quarter. Yorktown Management & Research Co Inc raised its position in Regal Rexnord by 24.4% during the fourth quarter. Yorktown Management & Research Co Inc now owns 4,075 shares of the company’s stock valued at $632,000 after acquiring an additional 800 shares in the last quarter. Trust Point Inc. raised its position in Regal Rexnord by 9.1% during the fourth quarter. Trust Point Inc. now owns 1,923 shares of the company’s stock valued at $298,000 after acquiring an additional 160 shares in the last quarter. Jennison Associates LLC raised its position in Regal Rexnord by 33.9% during the fourth quarter. Jennison Associates LLC now owns 175,702 shares of the company’s stock valued at $27,257,000 after acquiring an additional 44,447 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Regal Rexnord by 4.2% during the fourth quarter. Hantz Financial Services Inc. now owns 104,273 shares of the company’s stock valued at $16,176,000 after acquiring an additional 4,157 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RRX. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird cut their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Oppenheimer cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.50.

Regal Rexnord Stock Up 2.0 %

Shares of RRX opened at $138.39 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.26. Regal Rexnord Co. has a one year low of $130.94 and a one year high of $185.28. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 1.38 and a beta of 1.03. The stock has a 50 day moving average price of $157.56 and a 200 day moving average price of $162.58.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts forecast that Regal Rexnord Co. will post 10.32 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

Regal Rexnord 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.