Amalgamated Bank Sells 313 Shares of Regal Rexnord Co. (NYSE:RRX)

Amalgamated Bank reduced its position in Regal Rexnord Co. (NYSE:RRX) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,409 shares of the company’s stock after selling 313 shares during the period. Amalgamated Bank’s holdings in Regal Rexnord were worth $4,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRX. JPMorgan Chase & Co. raised its holdings in shares of Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC increased its position in Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new stake in Regal Rexnord during the fourth quarter valued at $811,000. PNC Financial Services Group Inc. lifted its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock valued at $2,042,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RRX. Barclays lowered their price target on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Friday, February 14th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.75.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $129.91 on Friday. Regal Rexnord Co. has a 52 week low of $128.95 and a 52 week high of $185.28. The company has a market capitalization of $8.60 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The stock’s fifty day moving average is $151.18 and its two-hundred day moving average is $161.27. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

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.