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

Thompson Investment Management Inc. lessened its position in shares of Regal Rexnord Co. (NYSE:RRX) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,483 shares of the company’s stock after selling 454 shares during the quarter. Thompson Investment Management Inc.’s holdings in Regal Rexnord were worth $3,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc increased its position in Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after acquiring an additional 61 shares during the last quarter. Hengehold Capital Management LLC increased its position in Regal Rexnord by 1.5% during the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after acquiring an additional 65 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in 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 acquiring an additional 67 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $138.93 on Friday. The stock has a 50 day moving average of $159.79 and a 200 day moving average of $162.80. Regal Rexnord Co. has a 12 month low of $130.94 and a 12 month high of $185.28. The firm has a market cap of $9.20 billion, a PE ratio of 47.09, a PEG ratio of 1.38 and a beta of 1.03. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last announced 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 net margin of 3.25% and a return on equity of 9.57%. On average, research analysts expect that Regal Rexnord Co. will post 10.32 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend 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 (DPR) is presently 47.46%.

Analysts Set New Price Targets

Several analysts have issued reports on RRX shares. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Barclays dropped their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.50.

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.