Regal Rexnord (NYSE:RRX) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Regal Rexnord (NYSE:RRX) from a buy rating to a strong-buy rating in a report released on Thursday morning.

Other analysts also recently issued reports about the company. Citigroup boosted their target price on Regal Rexnord from $110.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Oppenheimer decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. KeyCorp lowered their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Barclays lifted their target price on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Finally, Robert W. Baird increased their price target on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $171.25.

Regal Rexnord Trading Up 0.1%

Shares of RRX opened at $134.85 on Thursday. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.95 billion, a P/E ratio of 45.71, a PEG ratio of 1.37 and a beta of 1.11. The firm’s 50-day moving average is $115.70 and its two-hundred day moving average is $140.80.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 EPS. On average, research analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. Regal Rexnord’s dividend payout ratio is currently 39.89%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the sale, the chief executive officer now directly owns 175,954 shares of the company’s stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Regal Rexnord by 0.5% during the 1st quarter. Intech Investment Management LLC now owns 25,490 shares of the company’s stock valued at $2,902,000 after buying an additional 120 shares during the period. SCS Capital Management LLC purchased a new position in Regal Rexnord in the 1st quarter worth approximately $362,000. Woodline Partners LP acquired a new stake in Regal Rexnord in the first quarter valued at approximately $5,597,000. Finally, Dean Capital Management grew its position in Regal Rexnord by 2.0% in the first quarter. Dean Capital Management now owns 9,886 shares of the company’s stock valued at $1,126,000 after acquiring an additional 192 shares in the last quarter. 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.