Mutual of America Capital Management LLC Sells 2,108 Shares of Regal Rexnord Co. (NYSE:RRX)

Mutual of America Capital Management LLC reduced its stake in Regal Rexnord Co. (NYSE:RRX) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,009 shares of the company’s stock after selling 2,108 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Regal Rexnord worth $6,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Leeward Financial Partners LLC bought a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $350,000. Allspring Global Investments Holdings LLC lifted its stake in Regal Rexnord by 80.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after purchasing an additional 226,435 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Regal Rexnord by 11,000.0% during the fourth quarter. International Assets Investment Management LLC now owns 888 shares of the company’s stock worth $131,000 after purchasing an additional 880 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in Regal Rexnord by 19.7% during the fourth quarter. Ceredex Value Advisors LLC now owns 260,700 shares of the company’s stock worth $38,680,000 after purchasing an additional 42,900 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in Regal Rexnord during the fourth quarter worth $140,000. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Down 2.1 %

Shares of RRX opened at $163.09 on Friday. Regal Rexnord Co. has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average of $167.32 and a 200-day moving average of $143.23.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $2.64 EPS. Regal Rexnord’s revenue was up 29.2% compared to the same quarter last year. As a group, research analysts forecast that Regal Rexnord Co. will post 10.05 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 0.86%. Regal Rexnord’s payout ratio is -160.92%.

Insider Activity at Regal Rexnord

In related news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock worth $892,301 over the last three months. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RRX. Oppenheimer upped their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Barclays upped their target price on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, KeyCorp upped their target price on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.00.

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.