Teacher Retirement System of Texas Raises Holdings in Regal Rexnord Co. (NYSE:RRX)

Teacher Retirement System of Texas lifted its holdings in Regal Rexnord Co. (NYSE:RRX) by 141.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,118 shares of the company’s stock after purchasing an additional 4,758 shares during the quarter. Teacher Retirement System of Texas’ holdings in Regal Rexnord were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. iA Global Asset Management Inc. lifted its stake in Regal Rexnord by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after acquiring an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after purchasing an additional 77 shares during the last quarter. Moors & Cabot Inc. lifted its position in Regal Rexnord by 4.1% during the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after purchasing an additional 85 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Regal Rexnord by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,061 shares of the company’s stock valued at $320,000 after buying an additional 101 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $118.03 on Friday. The stock has a market cap of $7.82 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28. The firm has a fifty day moving average price of $136.06 and a 200-day moving average price of $155.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Wall Street Analyst Weigh In

RRX has been the subject of several research analyst reports. Barclays cut their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Finally, Citigroup decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.13.

About Regal Rexnord

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.