Nisa Investment Advisors LLC Lowers Stock Position in Regal Rexnord Co. (NYSE:RRX)

Nisa Investment Advisors LLC reduced its position in shares of Regal Rexnord Co. (NYSE:RRX) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,521 shares of the company’s stock after selling 366 shares during the period. Nisa Investment Advisors LLC’s holdings in Regal Rexnord were worth $521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE bought a new position in shares of Regal Rexnord during the 1st quarter worth approximately $702,000. Citigroup Inc. bought a new stake in Regal Rexnord during the first quarter worth $3,124,000. AlphaCrest Capital Management LLC purchased a new position in Regal Rexnord in the first quarter worth $347,000. Great West Life Assurance Co. Can bought a new position in Regal Rexnord in the 1st quarter valued at $5,758,000. Finally, Synovus Financial Corp purchased a new stake in shares of Regal Rexnord during the 1st quarter valued at $1,608,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Regal Rexnord

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

Analysts Set New Price Targets

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

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $159.53 on Thursday. The firm has a market capitalization of $10.60 billion, a PE ratio of -183.37, a P/E/G ratio of 1.62 and a beta of 1.14. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $168.74 and a two-hundred day moving average price of $143.62. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $2.64 EPS. Regal Rexnord’s revenue for the quarter was up 29.2% on a year-over-year basis. Equities analysts forecast that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, March 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

About Regal Rexnord

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.