Mutual of America Capital Management LLC Has $7.12 Million Holdings in Regal Rexnord Co. (NYSE:RRX)

Mutual of America Capital Management LLC lessened its stake in Regal Rexnord Co. (NYSE:RRX) by 3.7% in the first quarter, Holdings Channel reports. The firm owned 39,504 shares of the company’s stock after selling 1,505 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regal Rexnord were worth $7,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in Regal Rexnord during the first quarter worth about $33,000. GAMMA Investing LLC acquired a new position in Regal Rexnord during the fourth quarter worth about $58,000. ICA Group Wealth Management LLC acquired a new position in Regal Rexnord during the fourth quarter worth about $70,000. Riverview Trust Co acquired a new position in Regal Rexnord during the first quarter worth about $75,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Regal Rexnord during the fourth quarter worth about $100,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RRX shares. StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a report on Thursday. Oppenheimer boosted their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Barclays reduced their price target on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Raymond James started coverage on Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Robert W. Baird boosted their price target on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.00.

Regal Rexnord Stock Up 2.4 %

NYSE RRX traded up $3.21 on Monday, reaching $135.97. The company had a trading volume of 402,286 shares, compared to its average volume of 449,490. The stock has a market capitalization of $9.04 billion, a P/E ratio of -283.27, a P/E/G ratio of 1.36 and a beta of 1.06. The company’s fifty day moving average is $148.00 and its 200 day moving average is $154.41. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.22 EPS. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.03%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

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.