Regal Rexnord (NYSE:RRX) Trading Up 5.2%

Regal Rexnord Co. (NYSE:RRX) shares rose 5.2% during trading on Tuesday . The company traded as high as $163.84 and last traded at $163.84. Approximately 15,034 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 449,619 shares. The stock had previously closed at $155.81.

Analysts Set New Price Targets

Several research firms have recently commented on RRX. Barclays dropped their target price on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Raymond James started coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. KeyCorp cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Robert W. Baird lifted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.83.

Regal Rexnord Stock Performance

The firm has a market cap of $10.90 billion, a P/E ratio of -324.51, a PEG ratio of 1.56 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The stock’s 50-day moving average is $154.14 and its 200 day moving average is $156.86.

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

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is presently -291.67%.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRX. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord in the first quarter valued at about $33,000. Headlands Technologies LLC bought a new position in Regal Rexnord during the second quarter worth about $46,000. 1620 Investment Advisors Inc. acquired a new position in Regal Rexnord during the second quarter worth approximately $52,000. EntryPoint Capital LLC bought a new stake in Regal Rexnord in the first quarter valued at approximately $68,000. Finally, Riverview Trust Co acquired a new stake in shares of Regal Rexnord in the first quarter valued at approximately $75,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.