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

WCM Investment Management LLC lowered its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,298 shares of the company’s stock after selling 1,668 shares during the period. WCM Investment Management LLC owned about 0.17% of Regal Rexnord worth $16,937,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tobam purchased a new stake in shares of Regal Rexnord during the fourth quarter worth about $45,000. UMB Bank n.a. lifted its holdings in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 30.0% during the third quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock valued at $140,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday. Barclays reduced their price target on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $199.50.

Regal Rexnord Stock Performance

Shares of RRX opened at $138.93 on Monday. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.20 billion, a P/E ratio of 47.09, a P/E/G ratio of 1.38 and a beta of 1.03. The business’s 50 day moving average price is $159.79 and its 200-day moving average price is $163.00. Regal Rexnord Co. has a 52 week low of $130.94 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts anticipate that Regal Rexnord Co. will post 10.32 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders 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 dividend on an annualized basis and a yield of 1.01%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

About Regal Rexnord

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.