Thompson Investment Management Inc. Trims Position in Regal Rexnord Co. (NYSE:RRX)

Thompson Investment Management Inc. lowered its position in Regal Rexnord Co. (NYSE:RRX) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,193 shares of the company’s stock after selling 168 shares during the quarter. Thompson Investment Management Inc.’s holdings in Regal Rexnord were worth $4,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RRX. Riverview Trust Co purchased a new position in shares of Regal Rexnord during the first quarter worth $75,000. Steph & Co. grew its stake in shares of Regal Rexnord by 19.5% during the first quarter. Steph & Co. now owns 5,096 shares of the company’s stock worth $918,000 after purchasing an additional 830 shares in the last quarter. Rise Advisors LLC purchased a new position in Regal Rexnord in the first quarter valued at $33,000. Mather Group LLC. acquired a new stake in Regal Rexnord in the first quarter valued at $201,000. Finally, GAMMA Investing LLC lifted its holdings in Regal Rexnord by 44.9% during the 1st quarter. GAMMA Investing LLC now owns 568 shares of the company’s stock worth $102,000 after buying an additional 176 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RRX. Oppenheimer boosted their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays decreased their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. KeyCorp increased their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Robert W. Baird raised their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Regal Rexnord presently has an average rating of “Buy” and an average price target of $192.00.

Regal Rexnord Stock Performance

Regal Rexnord stock traded down $1.78 during mid-day trading on Wednesday, hitting $135.87. 176,886 shares of the company’s stock traded hands, compared to its average volume of 448,269. The company has a market cap of $9.04 billion, a PE ratio of -282.73, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. Regal Rexnord Co. has a one year low of $97.18 and a one year high of $183.85. The firm has a 50 day moving average price of $152.96 and a 200 day moving average price of $154.84.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. On average, equities analysts forecast that Regal Rexnord Co. will post 9.82 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is presently -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.