Ameritas Investment Partners Inc. Sells 502 Shares of Regal Rexnord Co. (NYSE:RRX)

Ameritas Investment Partners Inc. decreased its holdings in Regal Rexnord Co. (NYSE:RRX) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,148 shares of the company’s stock after selling 502 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Regal Rexnord were worth $1,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Regal Rexnord during the 4th quarter valued at $325,000. Corient Private Wealth LLC lifted its holdings in Regal Rexnord by 79.9% in the fourth quarter. Corient Private Wealth LLC now owns 8,318 shares of the company’s stock valued at $1,231,000 after acquiring an additional 3,694 shares during the period. Assetmark Inc. boosted its position in Regal Rexnord by 33.1% in the fourth quarter. Assetmark Inc. now owns 6,204 shares of the company’s stock worth $918,000 after purchasing an additional 1,542 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Regal Rexnord during the 4th quarter valued at about $37,768,000. Finally, TD Asset Management Inc increased its position in shares of Regal Rexnord by 128.4% during the 4th quarter. TD Asset Management Inc now owns 8,227 shares of the company’s stock valued at $1,218,000 after purchasing an additional 4,625 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RRX shares. KeyCorp dropped their price objective 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. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays reduced their price objective on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lifted their target price on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.29.

Regal Rexnord Stock Down 2.6 %

RRX opened at $169.67 on Monday. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of -353.48, a price-to-earnings-growth ratio of 1.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The firm’s fifty day moving average is $156.45 and its 200 day moving average is $156.84. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. The business’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 earnings per share. On average, sell-side analysts forecast that Regal Rexnord Co. will post 9.53 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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

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.