Mutual of America Capital Management LLC Sells 2,123 Shares of Regal Rexnord Co. (NYSE:RRX)

Mutual of America Capital Management LLC decreased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,963 shares of the company’s stock after selling 2,123 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Regal Rexnord worth $5,966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its position in Regal Rexnord by 8.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares in the last quarter. PEAK6 Investments LLC raised its holdings in Regal Rexnord by 52.2% in the first quarter. PEAK6 Investments LLC now owns 28,696 shares of the company’s stock worth $5,168,000 after purchasing an additional 9,848 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Regal Rexnord in the second quarter worth $1,173,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Regal Rexnord by 31.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock valued at $2,662,000 after buying an additional 4,701 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Regal Rexnord by 7.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock valued at $8,397,000 after buying an additional 4,076 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target 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. Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Robert W. Baird reduced their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Loop Capital reiterated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Finally, Barclays raised their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.

Regal Rexnord Trading Down 0.3 %

Shares of NYSE:RRX opened at $172.02 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a 1 year low of $113.79 and a 1 year high of $185.28. The company has a market cap of $11.39 billion, a P/E ratio of 54.26, a PEG ratio of 1.83 and a beta of 1.04. The stock’s fifty day moving average price is $168.21 and its 200-day moving average price is $156.88.

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

Regal Rexnord Announces Dividend

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

Regal Rexnord Company 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.