Amalgamated Bank Sells 1,894 Shares of Regal Rexnord Co. (NYSE:RRX)

Amalgamated Bank decreased its position in Regal Rexnord Co. (NYSE:RRX) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,722 shares of the company’s stock after selling 1,894 shares during the quarter. Amalgamated Bank’s holdings in Regal Rexnord were worth $5,262,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RRX. Victory Capital Management Inc. grew its stake in shares of Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after acquiring an additional 563,853 shares in the last quarter. Capital World Investors lifted its holdings in Regal Rexnord by 4.7% during the first quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock valued at $1,188,615,000 after purchasing an additional 296,941 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Regal Rexnord by 24.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after purchasing an additional 222,775 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Regal Rexnord by 7.1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in Regal Rexnord by 64.4% during the first quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company’s stock valued at $84,012,000 after purchasing an additional 182,770 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RRX. Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. KeyCorp lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Robert W. Baird lowered their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday. Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Regal Rexnord Stock Down 1.5 %

Shares of NYSE RRX opened at $178.89 on Friday. Regal Rexnord Co. has a one year low of $101.64 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The firm’s 50 day simple moving average is $165.87 and its two-hundred day simple moving average is $156.53. The stock has a market capitalization of $11.90 billion, a P/E ratio of 56.43, a PEG ratio of 1.80 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.53%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $2.10 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts expect that Regal Rexnord Co. will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

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.