Amalgamated Bank Decreases Holdings in Regal Rexnord Co. (NYSE:RRX)

Amalgamated Bank reduced its position in Regal Rexnord Co. (NYSE:RRX) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,409 shares of the company’s stock after selling 313 shares during the quarter. Amalgamated Bank’s holdings in Regal Rexnord were worth $4,872,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Tobam purchased a new position in Regal Rexnord during the 4th quarter worth $45,000. Nomura Asset Management Co. Ltd. boosted its holdings in 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. 1620 Investment Advisors Inc. grew its stake in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock valued at $167,000 after acquiring an additional 238 shares in the last quarter. Finally, Weatherly Asset Management L. P. purchased a new position in shares of Regal Rexnord in the 3rd quarter valued at approximately $180,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $129.91 on Friday. Regal Rexnord Co. has a 52-week low of $128.95 and a 52-week high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market cap of $8.60 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The business has a 50-day simple moving average of $151.18 and a 200-day simple moving average of $161.27.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, equities analysts expect that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Analyst Ratings Changes

Several research firms have weighed in on RRX. Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Barclays dropped their price target on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Oppenheimer reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.75.

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.