Nisa Investment Advisors LLC Sells 90 Shares of Regal Rexnord Co. (NYSE:RRX)

Nisa Investment Advisors LLC lowered its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,521 shares of the company’s stock after selling 90 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Regal Rexnord were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Regal Rexnord in the 4th quarter worth $180,918,000. The Manufacturers Life Insurance Company raised its holdings in Regal Rexnord by 167.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock worth $140,374,000 after acquiring an additional 593,862 shares during the period. Franklin Resources Inc. raised its holdings in Regal Rexnord by 87.3% in the 4th quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock worth $148,249,000 after acquiring an additional 466,820 shares during the period. Schroder Investment Management Group bought a new position in Regal Rexnord in the 4th quarter worth $49,041,000. Finally, Capital World Investors raised its holdings in Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after acquiring an additional 296,941 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $167.90 on Friday. 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 has a market capitalization of $11.17 billion, a price-to-earnings ratio of -349.79, a P/E/G ratio of 1.67 and a beta of 1.06. The company’s fifty day moving average is $147.98 and its two-hundred day moving average is $157.05. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the business posted $2.56 EPS. Equities research analysts forecast that Regal Rexnord Co. will post 9.47 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is currently -291.67%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays dropped their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Robert W. Baird lifted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Raymond James initiated coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $189.83.

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.