Artemis Investment Management LLP Acquires Shares of 108,360 Regal Rexnord Co. (NYSE:RRX)

Artemis Investment Management LLP acquired a new stake in Regal Rexnord Co. (NYSE:RRX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 108,360 shares of the company’s stock, valued at approximately $19,508,000. Artemis Investment Management LLP owned approximately 0.16% of Regal Rexnord as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Regal Rexnord by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after acquiring an additional 102 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Regal Rexnord during the first quarter worth approximately $75,000. Steph & Co. grew its position 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 buying an additional 830 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord during the first quarter worth approximately $33,000. Finally, Mather Group LLC. acquired a new stake in shares of Regal Rexnord during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. 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 report on Tuesday, June 4th. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday. Oppenheimer raised their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, Robert W. Baird boosted their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.00.

Regal Rexnord Trading Down 0.6 %

Shares of NYSE RRX opened at $135.22 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The firm’s 50-day moving average price is $151.63 and its two-hundred day moving average price is $154.62. Regal Rexnord Co. has a 52-week low of $97.18 and a 52-week high of $183.85.

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

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. Regal Rexnord’s dividend payout ratio is currently -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.