New York State Common Retirement Fund Buys 798 Shares of Regal Rexnord Co. (NYSE:RRX)

New York State Common Retirement Fund grew its stake in Regal Rexnord Co. (NYSE:RRX) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 153,504 shares of the company’s stock after acquiring an additional 798 shares during the period. New York State Common Retirement Fund’s holdings in Regal Rexnord were worth $22,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its position in Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. Global Retirement Partners LLC increased its position in Regal Rexnord by 18.5% during the third quarter. Global Retirement Partners LLC now owns 493 shares of the company’s stock worth $68,000 after acquiring an additional 77 shares during the period. CWM LLC increased its position in Regal Rexnord by 48.5% during the fourth quarter. CWM LLC now owns 738 shares of the company’s stock worth $109,000 after acquiring an additional 241 shares during the period. International Assets Investment Management LLC increased its position in Regal Rexnord by 11,000.0% during the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after acquiring an additional 880 shares during the period. Finally, Arlington Trust Co LLC bought a new position in Regal Rexnord during the fourth quarter worth about $140,000. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Trading Up 1.3 %

Shares of Regal Rexnord stock opened at $164.11 on Friday. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -188.63, a PEG ratio of 1.61 and a beta of 1.14. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. Regal Rexnord Co. has a 12-month low of $97.18 and a 12-month high of $183.85. The firm’s 50-day moving average price is $169.93 and its two-hundred day moving average price is $144.82.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 earnings per share. On average, analysts forecast that Regal Rexnord Co. will post 10.05 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, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. Regal Rexnord’s payout ratio is currently -160.92%.

Insider Activity

In other news, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now directly owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,570 shares of company stock worth $892,301. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Oppenheimer raised their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp raised their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Barclays raised their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.00.

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.