Thompson Investment Management Inc. Buys 335 Shares of Regal Rexnord Co. (NYSE:RRX)

Thompson Investment Management Inc. lifted its stake in Regal Rexnord Co. (NYSE:RRX) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,818 shares of the company’s stock after buying an additional 335 shares during the period. Thompson Investment Management Inc.’s holdings in Regal Rexnord were worth $2,826,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ increased its position in shares of Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord during the fourth quarter worth $33,000. Jones Financial Companies Lllp increased its holdings in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after buying an additional 153 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake 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 buying an additional 105 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $143.92 on Wednesday. The business’s fifty day moving average is $120.39 and its two-hundred day moving average is $137.28. 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 firm has a market cap of $9.55 billion, a P/E ratio of 48.79, a P/E/G ratio of 1.37 and a beta of 1.16. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts forecast that Regal Rexnord Co. will post 9.95 earnings per share 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.97%. Regal Rexnord’s dividend payout ratio (DPR) is currently 39.89%.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 175,954 shares in the company, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on RRX. KeyCorp decreased their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price objective on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Robert W. Baird increased their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Barclays raised their target price on Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Finally, Citigroup upped their price target on Regal Rexnord from $110.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord presently has a consensus rating of “Buy” and a consensus price target of $171.25.

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.