Regal Rexnord Corporation (NYSE:RRX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Regal Rexnord Corporation (NYSE:RRX) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $232.25.

Several analysts have recently weighed in on RRX shares. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Citigroup raised their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. KeyCorp lifted their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Barclays boosted their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Tuesday, April 21st.

Regal Rexnord Trading Up 1.7%

Shares of NYSE RRX opened at $213.92 on Wednesday. Regal Rexnord has a fifty-two week low of $127.96 and a fifty-two week high of $236.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 49.75, a PEG ratio of 1.98 and a beta of 1.11. The business’s 50 day moving average price is $203.94 and its 200-day moving average price is $183.18.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.15 EPS. On average, sell-side analysts expect that Regal Rexnord will post 10.63 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, July 14th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord’s dividend payout ratio is 32.56%.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares in the company, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin A. Walker-Lee sold 1,297 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,305 shares of company stock worth $6,341,869 in the last ninety days. 0.63% of the stock is owned by company insiders.

Institutional Trading of Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the 3rd quarter worth approximately $27,000. Garner Asset Management Corp bought a new position in shares of Regal Rexnord during the fourth quarter valued at approximately $27,000. Finally, IFP Advisors Inc boosted its stake in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.