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

Mutual of America Capital Management LLC lowered its holdings in Regal Rexnord Co. (NYSE:RRX) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,985 shares of the company’s stock after selling 978 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Regal Rexnord worth $5,427,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RRX. Tobam acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $45,000. Nomura Asset Management Co. Ltd. increased its position in shares of Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Regal Rexnord by 28.3% in the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock worth $167,000 after acquiring an additional 238 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Regal Rexnord in the third quarter worth $209,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $213,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of RRX stock opened at $123.60 on Tuesday. The firm has a market cap of $8.19 billion, a P/E ratio of 41.90, a P/E/G ratio of 1.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord Co. has a 1-year low of $121.53 and a 1-year high of $185.28. The firm has a fifty day moving average of $150.13 and a two-hundred day moving average of $160.99.

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

Regal Rexnord Dividend Announcement

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

Analyst Ratings Changes

RRX has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. 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. Robert W. Baird lowered their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $197.75.

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.