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

Regal Rexnord Co. (NYSE:RRX) has received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $205.13.

A number of brokerages recently issued reports on RRX. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. Barclays raised their target price on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

Regal Rexnord Stock Performance

NYSE RRX opened at $155.13 on Wednesday. The firm’s fifty day moving average price is $168.43 and its two-hundred day moving average price is $160.06. The stock has a market cap of $10.27 billion, a PE ratio of 48.94, a PEG ratio of 1.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. Regal Rexnord has a fifty-two week low of $130.94 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities analysts expect that Regal Rexnord will post 9.24 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared 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 dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after purchasing an additional 28,278 shares in the last quarter. American Trust grew its holdings in shares of Regal Rexnord by 11.5% during the third quarter. American Trust now owns 1,797 shares of the company’s stock valued at $298,000 after buying an additional 185 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after acquiring an additional 77,215 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock worth $1,262,000 after acquiring an additional 347 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Regal Rexnord by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock valued at $404,000 after acquiring an additional 123 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.