Texas Permanent School Fund Corp Has $6.58 Million Stock Holdings in Regal Rexnord Corporation $RRX

Texas Permanent School Fund Corp decreased its holdings in Regal Rexnord Corporation (NYSE:RRX) by 21.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 45,396 shares of the company’s stock after selling 12,610 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Regal Rexnord were worth $6,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. Tobam boosted its stake in shares of Regal Rexnord by 54.8% in the 2nd quarter. Tobam now owns 308 shares of the company’s stock valued at $45,000 after purchasing an additional 109 shares in the last quarter. Jones Financial Companies Lllp grew its holdings 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. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Regal Rexnord by 369.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 779 shares of the company’s stock worth $113,000 after purchasing an additional 613 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $144.59 on Wednesday. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 37.36, a P/E/G ratio of 1.54 and a beta of 1.11. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $167.77. The company’s fifty day moving average is $141.94 and its 200 day moving average is $144.55. The company has a quick ratio of 0.97, a current ratio of 2.05 and a debt-to-equity ratio of 0.71.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The firm had revenue of $1.85 billion for the quarter. Sell-side analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is presently 36.18%.

Analysts Set New Price Targets

Several brokerages recently commented on RRX. Citigroup increased their price objective on shares of Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. dropped their price target on Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. KeyCorp reduced their price objective on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Zacks Research cut Regal Rexnord from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Robert W. Baird set a $212.00 price target on Regal Rexnord in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.63.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of Regal Rexnord stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the transaction, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This trade represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

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.