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

Shares of Regal Rexnord Co. (NYSE:RRX) have earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $170.75.

A number of equities research analysts have recently issued reports on RRX shares. The Goldman Sachs Group cut their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Barclays reduced their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. KeyCorp lowered their target price on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Citigroup dropped their price objective on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th.

Regal Rexnord Stock Down 1.3 %

Shares of NYSE:RRX opened at $110.23 on Tuesday. The firm has a market capitalization of $7.30 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a 52-week low of $90.56 and a 52-week high of $185.28. The firm has a fifty day moving average of $111.51 and a 200 day moving average of $143.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.33. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 EPS. As a group, research analysts anticipate that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Regal Rexnord’s payout ratio is currently 47.46%.

Institutional Trading of Regal Rexnord

Large investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in shares of Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock valued at $1,262,000 after purchasing an additional 347 shares during the period. Franklin Resources Inc. boosted its holdings 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 buying an additional 77,215 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Regal Rexnord by 28.3% in the 4th quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock worth $167,000 after buying an additional 238 shares during the period. First Hawaiian Bank bought a new position in shares of Regal Rexnord in the 4th quarter worth about $811,000. Finally, Harbor Capital Advisors Inc. lifted its position in Regal Rexnord by 3.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 23,772 shares of the company’s stock valued at $3,688,000 after acquiring an additional 814 shares during the period. 99.72% of the stock is owned by institutional investors.

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.