Regal Rexnord Co. (NYSE:RRX) Stock Holdings Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in Regal Rexnord Co. (NYSE:RRX) by 2.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,985 shares of the company’s stock after selling 978 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regal Rexnord were worth $5,427,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new position in shares of Regal Rexnord in the 4th quarter worth about $6,069,000. Oppenheimer Asset Management Inc. lifted its position in shares of Regal Rexnord by 23.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 2,388 shares of the company’s stock worth $370,000 after buying an additional 454 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in Regal Rexnord by 35.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 9,846 shares of the company’s stock valued at $1,527,000 after purchasing an additional 2,594 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in Regal Rexnord in the 4th quarter valued at about $218,000. Finally, Wealthspire Advisors LLC lifted its position in Regal Rexnord by 6.3% in the 4th quarter. Wealthspire Advisors LLC now owns 2,443 shares of the company’s stock valued at $379,000 after purchasing an additional 144 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RRX shares. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays cut their price objective on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, Citigroup cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.75.

Regal Rexnord Stock Down 4.5 %

RRX stock opened at $123.60 on Tuesday. Regal Rexnord Co. has a 52 week low of $121.53 and a 52 week high of $185.28. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The firm’s 50-day moving average is $150.13 and its two-hundred day moving average is $160.99. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. On average, analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

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.