Louisiana State Employees Retirement System Makes New Investment in Regal Rexnord Corporation $RRX

Louisiana State Employees Retirement System acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 19,300 shares of the company’s stock, valued at approximately $3,614,000.

A number of other institutional investors have also recently made changes to their positions in RRX. Covestor Ltd boosted its stake in Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings 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 worth $25,000 after acquiring an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord during the 3rd quarter worth approximately $27,000. Garner Asset Management Corp bought a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $27,000. Finally, IFP Advisors Inc boosted its position in shares of Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Insider Activity 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 that occurred on 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 transaction, the director owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the transaction, the chief executive officer owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This trade represents a 28.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,305 shares of company stock worth $6,341,869. Insiders own 0.63% of the company’s stock.

Regal Rexnord Stock Down 2.9%

Shares of RRX opened at $220.63 on Friday. The company has a market cap of $14.69 billion, a PE ratio of 51.31, a P/E/G ratio of 2.06 and a beta of 1.11. The business has a fifty day moving average of $210.45 and a 200 day moving average of $189.93. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $236.35. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $2.15 earnings per share. Regal Rexnord’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Regal Rexnord Corporation will post 10.64 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. 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 payout ratio is currently 32.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group set a $260.00 price target on shares of Regal Rexnord in a research report on Monday, June 15th. KeyCorp increased their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. DA Davidson began coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 target price on the stock. Finally, Citigroup increased their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average price target of $237.80.

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.