Amalgamated Bank Has $3.46 Million Position in Regal Rexnord Corporation (NYSE:RRX)

Amalgamated Bank lowered its position in shares of Regal Rexnord Corporation (NYSE:RRX) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,384 shares of the company’s stock after selling 1,025 shares during the quarter. Amalgamated Bank’s holdings in Regal Rexnord were worth $3,459,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after buying an additional 77 shares during the period. Moors & Cabot Inc. grew its stake in Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after acquiring an additional 85 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Regal Rexnord by 3.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock valued at $370,000 after acquiring an additional 87 shares during the period. Advisory Research Inc. grew its stake in Regal Rexnord by 1.5% in the fourth 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. Finally, Smartleaf Asset Management LLC grew its position in shares of Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RRX shares. The Goldman Sachs Group decreased their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird upped their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Barclays upped their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, May 12th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Finally, Citigroup reaffirmed a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $180.63.

Regal Rexnord Stock Performance

Shares of RRX opened at $151.70 on Friday. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $185.28. The firm has a fifty day simple moving average of $136.32 and a 200 day simple moving average of $134.20. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 1.54 and a beta of 1.17. The company has a current ratio of 2.26, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping 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 company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $2.00 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.92%. Regal Rexnord’s dividend payout ratio (DPR) is presently 39.89%.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was 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 of the company’s stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

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.