Mutual of America Capital Management LLC Sells 1,097 Shares of Regal Rexnord Corporation $RRX

Mutual of America Capital Management LLC trimmed its stake in Regal Rexnord Corporation (NYSE:RRX) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,989 shares of the company’s stock after selling 1,097 shares during the period. Mutual of America Capital Management LLC’s holdings in Regal Rexnord were worth $4,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in shares of Regal Rexnord by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 7,754 shares of the company’s stock worth $882,000 after purchasing an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Regal Rexnord by 48.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,548 shares of the company’s stock worth $404,000 after buying an additional 1,160 shares during the last quarter. Steph & Co. grew its stake in Regal Rexnord by 31.2% during the first quarter. Steph & Co. now owns 4,923 shares of the company’s stock worth $560,000 after buying an additional 1,171 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock worth $31,000 after buying an additional 138 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Regal Rexnord by 41.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 50,045 shares of the company’s stock worth $5,698,000 after buying an additional 14,560 shares during the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $141.34 on Thursday. The stock has a market cap of $9.38 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 1.48 and a beta of 1.16. The stock has a 50-day moving average of $145.01 and a 200-day moving average of $137.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. Regal Rexnord Corporation has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The firm had revenue of $1.85 billion during the quarter. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. As a group, sell-side analysts expect that Regal Rexnord Corporation 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 Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio is 37.23%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RRX shares. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. The Goldman Sachs Group decreased their price target on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Finally, Barclays reduced their target price on shares of Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Regal Rexnord has a consensus rating of “Moderate Buy” and a consensus price target of $180.38.

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.