State of New Jersey Common Pension Fund D Sells 1,520 Shares of Regal Rexnord Corporation $RRX

State of New Jersey Common Pension Fund D decreased its stake in Regal Rexnord Corporation (NYSE:RRX) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,418 shares of the company’s stock after selling 1,520 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Regal Rexnord were worth $2,666,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Regal Rexnord in the 4th quarter valued at about $31,000. Golden State Wealth Management LLC lifted its stake in Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the 1st quarter valued at about $81,000. Signaturefd LLC lifted its stake in Regal Rexnord by 25.5% in the 1st quarter. Signaturefd LLC now owns 911 shares of the company’s stock valued at $104,000 after purchasing an additional 185 shares during the last quarter. Finally, CWM LLC lifted its stake in Regal Rexnord by 18.1% in the 1st quarter. CWM LLC now owns 1,011 shares of the company’s stock valued at $115,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays lifted their price objective on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Citigroup reissued a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 16th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $185.25.

Regal Rexnord Stock Performance

NYSE RRX opened at $145.0260 on Thursday. The firm’s fifty day moving average price is $147.45 and its two-hundred day moving average price is $132.22. The stock has a market cap of $9.63 billion, a PE ratio of 38.57, a PEG ratio of 1.50 and a beta of 1.18. Regal Rexnord Corporation has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. On average, equities analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 37.23%.

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.