Regal Rexnord Co. (NYSE:RRX) Given Consensus Rating of “Buy” by Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have been given an average rating of “Buy” by the five analysts that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $197.00.

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Oppenheimer raised their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp lifted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th.

Regal Rexnord Stock Down 2.9 %

Shares of NYSE RRX opened at $161.37 on Friday. The company has a market cap of $10.73 billion, a price-to-earnings ratio of -185.48, a PEG ratio of 1.63 and a beta of 1.14. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average is $170.08 and its 200 day moving average is $145.36. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.26 by $0.02. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.64 earnings per share. On average, equities research analysts expect that Regal Rexnord will post 10.05 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

Insiders Place Their Bets

In related news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,570 shares of company stock worth $892,301. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Regal Rexnord by 80.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after purchasing an additional 226,435 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Regal Rexnord by 56.8% during the fourth quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after buying an additional 52,214 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Regal Rexnord by 13.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock valued at $50,649,000 after acquiring an additional 42,110 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Regal Rexnord by 7.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock worth $548,000 after acquiring an additional 253 shares during the last quarter. Finally, UBS Group AG lifted its position in Regal Rexnord by 58.8% during the 3rd quarter. UBS Group AG now owns 90,990 shares of the company’s stock worth $13,001,000 after acquiring an additional 33,689 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

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.