Louisiana State Employees Retirement System Takes $3.61 Million Position in Regal Rexnord Corporation $RRX

Louisiana State Employees Retirement System bought a new position in Regal Rexnord Corporation (NYSE:RRX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,300 shares of the company’s stock, valued at approximately $3,614,000.

A number of other large investors have also added to or reduced their stakes in RRX. AQR Capital Management LLC increased its position in Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after acquiring an additional 11,987 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock valued at $70,000 after purchasing an additional 295 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Regal Rexnord by 6.7% in the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after purchasing an additional 196 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Regal Rexnord in the 2nd quarter worth approximately $4,759,000. Institutional investors own 99.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,297 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the sale, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 30,305 shares of company stock worth $6,341,869. 0.63% of the stock is owned by corporate insiders.

Regal Rexnord Stock Down 2.9%

Shares of RRX stock opened at $220.63 on Friday. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 51.31, a PEG ratio of 2.06 and a beta of 1.11. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $236.35. The company’s fifty day moving average price is $210.45 and its 200-day moving average price is $189.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.06. The company had revenue of $1.48 billion during 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%. Regal Rexnord’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 EPS. Sell-side analysts expect that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid 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 dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio is 32.56%.

Analyst Upgrades and Downgrades

A number of analysts have commented on RRX shares. KeyCorp upped their target price on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. DA Davidson started coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. UBS Group set a $260.00 target price on Regal Rexnord in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.80.

Regal Rexnord Company Profile

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.