WCM Investment Management LLC Has $19.63 Million Stock Holdings in Regal Rexnord Corporation $RRX

WCM Investment Management LLC trimmed its position in Regal Rexnord Corporation (NYSE:RRX) by 26.0% during the first quarter, Holdings Channel reports. The firm owned 110,177 shares of the company’s stock after selling 38,655 shares during the quarter. WCM Investment Management LLC’s holdings in Regal Rexnord were worth $19,632,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in Regal Rexnord by 42.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock worth $793,983,000 after purchasing an additional 1,690,264 shares during the period. Bank of New York Mellon Corp raised its stake in Regal Rexnord by 115.5% in the first quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock valued at $343,859,000 after buying an additional 984,185 shares during the period. Bessemer Group Inc. raised its stake in Regal Rexnord by 4,155.4% in the first quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock valued at $171,541,000 after buying an additional 894,527 shares during the period. Norges Bank acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $121,301,000. Finally, Viking Global Investors LP boosted its stake in shares of Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after acquiring an additional 701,145 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Oppenheimer reissued an “outperform” rating on shares of Regal Rexnord in a report on Friday, July 10th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Saturday. KeyCorp lifted their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Finally, UBS Group set a $260.00 price objective on shares of Regal Rexnord in a research report on Monday, June 15th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $247.00.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,297 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. The trade was a 19.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the transaction, the chief financial officer owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock worth $6,341,869 in the last 90 days. Company insiders own 0.63% of the company’s stock.

Regal Rexnord Trading Up 0.2%

Shares of NYSE:RRX opened at $207.29 on Monday. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $247.80. The business has a 50 day moving average of $211.75 and a 200-day moving average of $197.65. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. The stock has a market cap of $13.80 billion, a PE ratio of 48.21, a P/E/G ratio of 1.94 and a beta of 1.08.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 earnings per share. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 10.64 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is currently 32.56%.

Regal Rexnord Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.