Mutual of America Capital Management LLC Trims Stake in Regal Rexnord Co. (NYSE:RRX)

Mutual of America Capital Management LLC lessened its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 5.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 35,963 shares of the company’s stock after selling 2,123 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regal Rexnord were worth $5,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Regal Rexnord during the second quarter valued at about $46,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord during the 2nd quarter valued at approximately $52,000. UMB Bank n.a. increased its holdings in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Regal Rexnord in the 1st quarter worth approximately $68,000. Finally, GAMMA Investing LLC raised its stake in Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares during the period. Institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RRX. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird dropped their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Barclays increased their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Loop Capital restated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $172.02 on Wednesday. The firm has a market cap of $11.39 billion, a PE ratio of 54.26, a PEG ratio of 1.83 and a beta of 1.04. The stock has a 50 day moving average of $168.21 and a 200 day moving average of $156.88. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord Co. has a 12 month low of $113.79 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company earned $2.10 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, research analysts expect that Regal Rexnord Co. will post 9.25 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.81%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is owned by insiders.

Regal Rexnord Profile

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.