Regal Rexnord (NYSE:RRX) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of Regal Rexnord (NYSE:RRX) in a report published on Monday, MarketBeat reports. The firm issued a buy rating and a $200.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the company. Loop Capital reissued a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Barclays increased 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. KeyCorp dropped their price target on 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 raised their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Raymond James assumed coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.63.

Regal Rexnord Stock Up 2.2 %

RRX opened at $178.07 on Monday. The stock has a fifty day moving average of $162.07 and a 200-day moving average of $156.00. The company has a market capitalization of $11.84 billion, a P/E ratio of -370.97, a P/E/G ratio of 1.76 and a beta of 1.04. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned $2.56 EPS. The business’s revenue was down 12.5% on a year-over-year basis. On average, equities analysts expect that Regal Rexnord will post 9.48 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently modified their holdings of RRX. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 24,847 shares in the last quarter. Capital World Investors raised its position in Regal Rexnord by 4.7% in the first quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock valued at $1,188,615,000 after purchasing an additional 296,941 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Regal Rexnord by 7.1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after purchasing an additional 563,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after buying an additional 8,159 shares during the period. Institutional investors own 99.72% of the company’s stock.

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.