Arizona State Retirement System grew its holdings in Regal Rexnord Co. (NYSE:RRX – Get Rating) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,758 shares of the company’s stock after buying an additional 550 shares during the period. Arizona State Retirement System’s holdings in Regal Rexnord were worth $2,251,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in RRX. Point72 Hong Kong Ltd acquired a new position in shares of Regal Rexnord during the first quarter worth about $42,000. Artemis Wealth Advisors LLC purchased a new position in shares of Regal Rexnord in the 4th quarter valued at $35,000. My Personal CFO LLC purchased a new position in shares of Regal Rexnord in the 4th quarter valued at $36,000. CWM LLC grew its holdings in Regal Rexnord by 39.1% during the 3rd quarter. CWM LLC now owns 313 shares of the company’s stock valued at $44,000 after purchasing an additional 88 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Regal Rexnord during the 3rd quarter valued at $60,000. 99.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. KeyCorp boosted their target price 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. Barclays boosted their price target on shares of Regal Rexnord from $148.00 to $185.00 in a report on Sunday, February 5th. Robert W. Baird cut their price target on shares of Regal Rexnord from $188.00 to $184.00 and set an “outperform” rating on the stock in a report on Tuesday, March 28th. Oppenheimer upped their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Finally, StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.00.
Regal Rexnord Trading Down 0.8 %
Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Thursday, June 29th. Regal Rexnord’s dividend payout ratio is currently 26.12%.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Regal Rexnord (RRX)
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