Regal Rexnord (NYSE:RRX) Lowered to Hold at StockNews.com

StockNews.com cut shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Other research analysts also recently issued research reports about the stock. KeyCorp upped their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an overweight rating in a research note on Monday, March 25th. Barclays dropped their price target on shares of Regal Rexnord from $203.00 to $199.00 and set an overweight rating for the company in a research report on Wednesday, May 8th. Robert W. Baird lifted their price target on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an outperform rating in a report on Wednesday, May 8th. Finally, Oppenheimer upped their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an outperform rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $195.60.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $149.72 on Tuesday. The company has a 50-day simple moving average of $167.40 and a 200-day simple moving average of $149.90. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The company has a market cap of $9.96 billion, a PE ratio of -311.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company earned $2.22 EPS. Regal Rexnord’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities analysts anticipate that Regal Rexnord will post 9.88 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.94%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Insider Transactions at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds have recently modified their holdings of RRX. FMR LLC grew its position in Regal Rexnord by 2.1% in the third quarter. FMR LLC now owns 8,978,384 shares of the company’s stock valued at $1,282,831,000 after acquiring an additional 181,889 shares in the last quarter. Vanguard Group Inc. grew its holdings in Regal Rexnord by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after purchasing an additional 24,847 shares in the last quarter. Capital World Investors increased its stake in Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after buying an additional 296,941 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Regal Rexnord by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock worth $522,892,000 after buying an additional 135,154 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Regal Rexnord by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock worth $206,862,000 after buying an additional 30,688 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.