Teacher Retirement System of Texas Buys 4,758 Shares of Regal Rexnord Co. (NYSE:RRX)

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

A number of other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Regal Rexnord by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock valued at $71,623,000 after buying an additional 4,752 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Regal Rexnord by 11.7% during the 3rd quarter. Cerity Partners LLC now owns 2,632 shares of the company’s stock valued at $436,000 after acquiring an additional 276 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of Regal Rexnord in the third quarter valued at $267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Regal Rexnord by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after purchasing an additional 83,823 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new stake in Regal Rexnord during the third quarter valued at $1,557,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $118.03 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average is $136.06 and its two-hundred day moving average is $155.56. Regal Rexnord Co. has a 52 week low of $113.73 and a 52 week high of $185.28. The company has a market capitalization 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 (NYSE:RRX) last issued its 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 net margin of 3.25% and a return on equity of 9.57%. As a group, analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of recent research reports. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Barclays lowered their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.