Teachers Retirement System of The State of Kentucky Has $18.48 Million Holdings in Regal Rexnord Corporation $RRX

Teachers Retirement System of The State of Kentucky decreased its stake in Regal Rexnord Corporation (NYSE:RRX) by 20.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 98,705 shares of the company’s stock after selling 25,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Regal Rexnord were worth $18,483,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Regal Rexnord by 42.6% in the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock valued at $793,983,000 after acquiring an additional 1,690,264 shares during the period. Norges Bank acquired a new position in Regal Rexnord during the fourth quarter valued at approximately $121,301,000. Viking Global Investors LP grew its holdings in Regal Rexnord by 25.7% during the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares during the period. Invesco Ltd. increased its stake in Regal Rexnord by 27.1% in the fourth quarter. Invesco Ltd. now owns 1,905,828 shares of the company’s stock valued at $267,426,000 after purchasing an additional 405,828 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in Regal Rexnord by 88.4% in the fourth quarter. William Blair Investment Management LLC now owns 759,283 shares of the company’s stock valued at $106,543,000 after purchasing an additional 356,279 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRX has been the topic of several recent analyst reports. DA Davidson started coverage on Regal Rexnord in a report on Tuesday, June 16th. They set a “buy” rating and a $260.00 target price on the stock. KeyCorp lifted their price objective on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wolfe Research set a $250.00 target price on Regal Rexnord in a research note on Thursday. UBS Group set a $260.00 target price on shares of Regal Rexnord in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.64.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director directly owned 5,503 shares of the company’s stock, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Rehard sold 6,499 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Trading Down 2.9%

NYSE RRX opened at $208.59 on Tuesday. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $247.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The stock’s 50 day moving average price is $212.34 and its two-hundred day moving average price is $195.78. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 48.51, a PEG ratio of 2.02 and a beta of 1.08.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. As a group, analysts anticipate that Regal Rexnord Corporation will post 10.64 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 Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is 32.56%.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.