New York Life Investment Management LLC Sells 593 Shares of Regal Rexnord Co. (NYSE:RRX)

New York Life Investment Management LLC lessened its holdings in Regal Rexnord Co. (NYSE:RRX) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,042 shares of the company’s stock after selling 593 shares during the period. New York Life Investment Management LLC’s holdings in Regal Rexnord were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc grew its holdings in shares of Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after purchasing an additional 61 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after purchasing an additional 68 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after purchasing an additional 95 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Regal Rexnord by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock worth $404,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of RRX opened at $123.60 on Tuesday. Regal Rexnord Co. has a 52-week low of $121.53 and a 52-week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The business’s 50 day moving average price is $150.13 and its two-hundred day moving average price is $160.99. The firm has a market cap of $8.19 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

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