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

Regal Rexnord Co. (NYSE:RRX) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $193.00.

A number of analysts have recently issued reports on the company. Barclays boosted their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird cut their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares during the period. Blair William & Co. IL boosted its stake in Regal Rexnord by 161.4% during the 1st quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after purchasing an additional 4,798 shares during the period. Westfield Capital Management Co. LP grew its position in Regal Rexnord by 18.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after purchasing an additional 47,379 shares during the last quarter. PEAK6 Investments LLC increased its stake in shares of Regal Rexnord by 52.2% in the first quarter. PEAK6 Investments LLC now owns 28,696 shares of the company’s stock valued at $5,168,000 after purchasing an additional 9,848 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Regal Rexnord during the second quarter valued at approximately $1,173,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 1.7 %

Shares of RRX opened at $172.69 on Tuesday. Regal Rexnord has a fifty-two week low of $113.79 and a fifty-two week high of $185.28. The company’s fifty day moving average is $167.71 and its two-hundred day moving average is $156.81. The firm has a market cap of $11.44 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $2.10 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts forecast that Regal Rexnord will post 9.25 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. Regal Rexnord’s payout ratio is currently 44.16%.

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.