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

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $202.00.

Several brokerages have recently weighed in on RRX. Barclays lowered their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was 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 hyperlink. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 28,278 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Regal Rexnord in the 4th quarter worth approximately $811,000. PNC Financial Services Group Inc. boosted its holdings in shares of Regal Rexnord by 29.2% in 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 during the period. Finally, Franklin Resources Inc. increased its position 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 valued at $204,254,000 after purchasing an additional 77,215 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 2.8 %

Shares of RRX stock opened at $158.56 on Friday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 50.02, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $162.26 and its 200 day moving average is $162.96. Regal Rexnord has a 12-month low of $130.94 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. Regal Rexnord’s revenue was down 10.4% compared to the same quarter last year. Research analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is currently 44.16%.

About Regal Rexnord

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.