Nisa Investment Advisors LLC Has $376,000 Holdings in Regal Rexnord Corporation (NYSE:RRX)

Nisa Investment Advisors LLC cut its holdings in shares of Regal Rexnord Corporation (NYSE:RRXFree Report) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,296 shares of the company’s stock after selling 340 shares during the period. Nisa Investment Advisors LLC’s holdings in Regal Rexnord were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RRX. Kovitz Investment Group Partners LLC grew its position in shares of Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock worth $370,000 after buying an additional 87 shares during the period. Advisory Research Inc. raised its position in shares of Regal Rexnord by 1.5% in the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company’s stock valued at $1,041,000 after acquiring an additional 98 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Regal Rexnord by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company’s stock valued at $1,543,000 after acquiring an additional 100 shares during the period. Greenleaf Trust raised its position in shares of Regal Rexnord by 2.1% in the 1st quarter. Greenleaf Trust now owns 5,187 shares of the company’s stock valued at $591,000 after acquiring an additional 105 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 0.2%

Shares of RRX opened at $145.97 on Thursday. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market cap of $9.68 billion, a P/E ratio of 41.59, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The firm’s 50-day simple moving average is $142.08 and its 200 day simple moving average is $133.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRXGet Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $2.00 EPS. Regal Rexnord’s quarterly revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, June 30th. Regal Rexnord’s dividend payout ratio (DPR) is 39.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Robert W. Baird raised their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Buy” and a consensus target price of $185.25.

Get Our Latest Report on Regal Rexnord

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer owned 175,954 shares in the company, valued at $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Regal Rexnord Profile

(Free Report)

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.

See Also

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

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