WCM Investment Management LLC Sells 38,655 Shares of Regal Rexnord Corporation $RRX

Key Points

• WCM Investment Management cut its Regal Rexnord stake by 26% in Q1, selling 38,655 shares and ending with 110,177 shares worth about $19.6 million.
• Several analysts remain constructive on RRX, with multiple price targets raised and the stock carrying a consensus “Moderate Buy” rating and average target price of $247.
• Regal Rexnord posted better-than-expected Q1 results, earning $2.17 per share on revenue of $1.48 billion, and also paid a quarterly dividend of $0.35 per share.

WCM Investment Management LLC lessened its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 26.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,177 shares of the company's stock after selling 38,655 shares during the quarter. WCM Investment Management LLC owned 0.17% of Regal Rexnord worth $19,632,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RRX. Covestor Ltd lifted its position in Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company's stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the period. Garner Asset Management Corp bought a new position in Regal Rexnord during the 4th quarter worth about $27,000. IFP Advisors Inc increased its holdings in Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company's stock worth $27,000 after purchasing an additional 49 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Regal Rexnord in the 3rd quarter valued at about $35,000. Institutional investors own 99.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RRX. Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. UBS Group set a $260.00 target price on Regal Rexnord in a research note on Monday, June 15th. Wolfe Research set a $250.00 price target on Regal Rexnord in a research report on Thursday, July 9th. Finally, Barclays raised their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $247.00.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CFO Robert Rehard sold 6,499 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares of the company's stock, valued at $5,593,000. The trade was a 18.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the sale, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 over the last ninety days. 0.63% of the stock is currently owned by corporate insiders.

Regal Rexnord Trading Up 0.2%

Regal Rexnord stock opened at $207.29 on Monday. The firm has a 50-day moving average of $211.75 and a 200-day moving average of $197.65. Regal Rexnord Corporation has a one year low of $127.96 and a one year high of $247.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 48.21, a P/E/G ratio of 1.94 and a beta of 1.08.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 EPS. On average, equities analysts expect that Regal Rexnord Corporation will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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

About Regal Rexnord

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.

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