Mesirow Institutional Investment Management Inc. Trims Stock Position in Regal Rexnord Co. (NYSE:RRX)

Mesirow Institutional Investment Management Inc. trimmed its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 1.4% in the second quarter, HoldingsChannel reports. The firm owned 18,209 shares of the company’s stock after selling 254 shares during the period. Mesirow Institutional Investment Management Inc.’s holdings in Regal Rexnord were worth $2,462,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord during the 1st quarter worth about $33,000. 1620 Investment Advisors Inc. acquired a new stake in Regal Rexnord during the second quarter worth approximately $52,000. EntryPoint Capital LLC acquired a new stake in Regal Rexnord during the first quarter worth approximately $68,000. Riverview Trust Co purchased a new stake in Regal Rexnord in the 1st quarter worth approximately $75,000. Finally, GAMMA Investing LLC raised its holdings in Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after acquiring an additional 79 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on RRX. The Goldman Sachs Group lifted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays dropped their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Robert W. Baird boosted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, KeyCorp cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.83.

Regal Rexnord Trading Down 3.8 %

Shares of RRX stock opened at $150.71 on Thursday. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The firm’s 50 day moving average price is $151.59 and its two-hundred day moving average price is $157.80. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of -313.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business posted $2.56 EPS. The business’s quarterly revenue was down 12.5% on a year-over-year basis. On average, analysts anticipate that Regal Rexnord Co. will post 9.53 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.93%. Regal Rexnord’s dividend payout ratio (DPR) is currently -291.67%.

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.