Regal Rexnord Co. (NYSE:RRX) Stake Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its holdings in Regal Rexnord Co. (NYSE:RRX – Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,149 shares of the company’s stock after selling 226 shares during the period. Maryland State Retirement & Pension System’s holdings in Regal Rexnord were worth $725,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in Regal Rexnord in the 1st quarter worth about $42,000. Artemis Wealth Advisors LLC purchased a new stake in shares of Regal Rexnord during the 4th quarter worth about $35,000. My Personal CFO LLC purchased a new stake in shares of Regal Rexnord during the 4th quarter worth about $36,000. FourThought Financial LLC raised its stake in shares of Regal Rexnord by 53.8% during the 3rd quarter. FourThought Financial LLC now owns 466 shares of the company’s stock worth $65,000 after purchasing an additional 163 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Regal Rexnord during the 4th quarter worth about $57,000. 97.12% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RRX shares. StockNews.com started coverage on Regal Rexnord in a research note on Thursday, May 18th. They set a “hold” rating for the company. Robert W. Baird cut their price target on Regal Rexnord from $188.00 to $184.00 and set an “outperform” rating for the company in a research note on Tuesday, March 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $186.00.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $148.79 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.69 and a current ratio of 2.92. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.44 and a beta of 1.09. The business’s 50-day simple moving average is $139.62 and its 200-day simple moving average is $139.20. Regal Rexnord Co. has a 52 week low of $108.82 and a 52 week high of $162.89.

Regal Rexnord (NYSE:RRX – Free Report) last issued its quarterly earnings data on Thursday, May 4th. The company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. Regal Rexnord had a return on equity of 10.81% and a net margin of 6.95%. As a group, equities research analysts expect that Regal Rexnord Co. will post 10.69 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 Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, June 29th. Regal Rexnord’s dividend payout ratio (DPR) is currently 26.12%.

About Regal Rexnord

(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. It operates in four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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