Nisa Investment Advisors LLC Makes New Investment in Regal Rexnord Co. (NYSE:RRX)

Nisa Investment Advisors LLC purchased a new position in shares of Regal Rexnord Co. (NYSE:RRXGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,587 shares of the company’s stock, valued at approximately $1,278,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RRX. Bowling Portfolio Management LLC acquired a new stake in Regal Rexnord during the first quarter worth about $333,000. Moody National Bank Trust Division acquired a new stake in Regal Rexnord during the first quarter worth about $1,365,000. Wedge Capital Management L L P NC acquired a new stake in Regal Rexnord during the first quarter worth about $13,537,000. Seelaus Asset Management LLC acquired a new stake in Regal Rexnord during the first quarter worth about $611,000. Finally, State of Alaska Department of Revenue acquired a new stake in Regal Rexnord during the first quarter worth about $1,418,000. 98.16% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $124.24 on Friday. Regal Rexnord Co. has a fifty-two week low of $108.28 and a fifty-two week high of $176.91. The business has a 50 day moving average price of $118.69 and a two-hundred day moving average price of $140.19. The company has a quick ratio of 1.55, a current ratio of 2.81 and a debt-to-equity ratio of 0.32. The firm has a market cap of $8.32 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Regal Rexnord (NYSE:RRXGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.24. Regal Rexnord had a return on equity of 11.36% and a net margin of 6.28%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $1.98 EPS. Sell-side analysts expect that Regal Rexnord Co. will post 10.58 earnings per share for the current fiscal year.

Regal Rexnord Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, June 29th. This is an increase from Regal Rexnord’s previous quarterly dividend of $0.33. Regal Rexnord’s dividend payout ratio (DPR) is currently 25.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RRX shares. The Goldman Sachs Group lowered their target price on Regal Rexnord from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Friday, July 8th. Barclays lowered their target price on Regal Rexnord from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Finally, KeyCorp lowered their target price on Regal Rexnord from $185.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $165.60.

Regal Rexnord Profile

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Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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Institutional Ownership by Quarter for Regal Rexnord (NYSE:RRX)

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