WCM Investment Management LLC Decreases Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

WCM Investment Management LLC lowered its stake in Regal Rexnord Co. (NYSE:RRX) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,298 shares of the company’s stock after selling 1,668 shares during the quarter. WCM Investment Management LLC’s holdings in Regal Rexnord were worth $16,937,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tobam bought a new position in shares of Regal Rexnord during the 4th quarter valued at $45,000. UMB Bank n.a. lifted its holdings in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Regal Rexnord by 30.3% in 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. 1620 Investment Advisors Inc. grew its stake in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Regal Rexnord by 30.0% during the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after purchasing an additional 194 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 the stock. Oppenheimer dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Citigroup decreased their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays decreased their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.50.

Regal Rexnord Price Performance

NYSE:RRX opened at $138.93 on Monday. The business’s 50-day simple moving average is $159.79 and its two-hundred day simple moving average is $163.00. Regal Rexnord Co. has a 52 week low of $130.94 and a 52 week high of $185.28. The stock has a market cap of $9.20 billion, a PE ratio of 47.09, a P/E/G ratio of 1.38 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, analysts forecast that Regal Rexnord Co. will post 10.32 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.01%. Regal Rexnord’s payout ratio is 47.46%.

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.