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

Mutual of America Capital Management LLC cut its position in Regal Rexnord Co. (NYSE:RRX) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,086 shares of the company’s stock after selling 1,418 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Regal Rexnord worth $5,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in shares of Regal Rexnord by 14.3% during the fourth quarter. Private Advisor Group LLC now owns 1,620 shares of the company’s stock valued at $240,000 after buying an additional 203 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Regal Rexnord during the 4th quarter worth $325,000. Coldstream Capital Management Inc. boosted its position in Regal Rexnord by 27.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,632 shares of the company’s stock worth $390,000 after acquiring an additional 567 shares during the period. Corient Private Wealth LLC grew its stake in shares of Regal Rexnord by 79.9% in the fourth quarter. Corient Private Wealth LLC now owns 8,318 shares of the company’s stock worth $1,231,000 after purchasing an additional 3,694 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Regal Rexnord by 33.1% during the fourth quarter. Assetmark Inc. now owns 6,204 shares of the company’s stock valued at $918,000 after purchasing an additional 1,542 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RRX shares. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Raymond James began coverage on Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. Robert W. Baird upped their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, KeyCorp lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $191.29.

Regal Rexnord Stock Performance

RRX opened at $169.67 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The firm has a market cap of $11.29 billion, a PE ratio of -353.48, a P/E/G ratio of 1.64 and a beta of 1.04. The business has a fifty day simple moving average of $156.45 and a 200-day simple moving average of $156.91. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business posted $2.56 EPS. Regal Rexnord’s revenue was down 12.5% on a year-over-year basis. As a group, equities analysts predict that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio is -291.67%.

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.