Regal Rexnord Co. (NYSE:RRX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are 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 twelve-month price target among brokerages that have covered the stock in the last year is $195.75.

A number of equities research analysts have recently issued reports on the company. Oppenheimer dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Jefferies Financial Group began coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Barclays dropped their price target on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th.

Regal Rexnord Trading Down 2.2 %

Shares of Regal Rexnord stock opened at $120.82 on Monday. Regal Rexnord has a 12-month low of $113.73 and a 12-month high of $185.28. The stock has a market cap of $8.01 billion, a P/E ratio of 40.96, a P/E/G ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $139.44 and its 200-day moving average is $156.61.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is 47.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Regal Rexnord during the 4th quarter worth $811,000. PNC Financial Services Group Inc. grew its holdings in shares of Regal Rexnord by 29.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. 99.72% of the stock is 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.