Regal Rexnord Co. (NYSE:RRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Regal Rexnord Co. (NYSE:RRX) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $205.13.

RRX has been the topic of several research reports. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup initiated coverage on Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday. They set a “buy” rating and a $215.00 price objective for the company. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of Regal Rexnord from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

Regal Rexnord Trading Down 1.5 %

Shares of RRX stock opened at $168.83 on Friday. Regal Rexnord has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The stock has a 50 day simple moving average of $171.79 and a two-hundred day simple moving average of $158.62. The company has a market cap of $11.18 billion, a P/E ratio of 53.26, a PEG ratio of 1.84 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. Regal Rexnord’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 EPS. Research analysts forecast that Regal Rexnord will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is 44.16%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in Regal Rexnord by 20.2% during the first quarter. Tidal Investments LLC now owns 1,876 shares of the company’s stock worth $338,000 after acquiring an additional 315 shares during the period. GAMMA Investing LLC raised its stake in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the period. CWM LLC raised its stake in shares of Regal Rexnord by 25.4% during the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after purchasing an additional 167 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Regal Rexnord by 418.5% in the 2nd quarter. SG Americas Securities LLC now owns 3,132 shares of the company’s stock worth $424,000 after buying an additional 2,528 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in Regal Rexnord by 40.0% during the second quarter. Artemis Investment Management LLP now owns 151,660 shares of the company’s stock valued at $20,507,000 after buying an additional 43,300 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company 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.