Regal Rexnord Co. (NYSE:RRX) Receives Consensus Rating of “Moderate Buy” from Analysts

Regal Rexnord Co. (NYSE:RRX) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $191.29.

Several research firms have recently commented on RRX. KeyCorp lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Robert W. Baird boosted their price target on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays reduced their price target on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd.

Regal Rexnord Stock Down 1.1 %

Regal Rexnord stock opened at $167.18 on Monday. The business has a fifty day moving average price of $158.04 and a 200-day moving average price of $156.78. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of -348.29, a PEG ratio of 1.78 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.56 earnings per share. Equities research analysts forecast that Regal Rexnord will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Regal Rexnord’s payout ratio is -291.67%.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Regal Rexnord by 167.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock valued at $140,374,000 after buying an additional 593,862 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after purchasing an additional 563,853 shares in the last quarter. Schroder Investment Management Group acquired a new position in Regal Rexnord in the 4th quarter worth about $49,041,000. Capital World Investors boosted its position in Regal Rexnord by 4.7% during the first quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Regal Rexnord in the fourth quarter valued at approximately $37,768,000. 99.72% of the stock is 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.