Regal Rexnord Corporation (NYSE:RRX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Regal Rexnord Corporation (NYSE:RRX) have been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $180.3750.

Several analysts recently issued reports on RRX shares. The Goldman Sachs Group dropped their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Wednesday, October 8th. Barclays dropped their price objective on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. JPMorgan Chase & Co. initiated coverage on Regal Rexnord in a research note on Monday, September 15th. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, KeyCorp dropped their price objective on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th.

Regal Rexnord Stock Performance

RRX opened at $146.36 on Tuesday. Regal Rexnord has a 52-week low of $90.56 and a 52-week high of $185.28. The firm has a market capitalization of $9.71 billion, a PE ratio of 38.93, a PEG ratio of 1.48 and a beta of 1.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The business’s 50-day simple moving average is $145.01 and its 200 day simple moving average is $139.14.

Regal Rexnord (NYSE:RRX) last released its earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.85 billion for the quarter. As a group, sell-side analysts expect that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.23%.

Institutional Investors Weigh In On Regal Rexnord

A number of large investors have recently modified their holdings of RRX. Oppenheimer Asset Management Inc. boosted its holdings in shares of Regal Rexnord by 48.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,548 shares of the company’s stock valued at $404,000 after purchasing an additional 1,160 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after purchasing an additional 138 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Regal Rexnord by 41.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 50,045 shares of the company’s stock valued at $5,698,000 after purchasing an additional 14,560 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Regal Rexnord by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 457,290 shares of the company’s stock valued at $52,460,000 after purchasing an additional 17,974 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its holdings in shares of Regal Rexnord by 45.1% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 6,951 shares of the company’s stock valued at $791,000 after purchasing an additional 2,161 shares in the last quarter. Institutional investors and hedge funds 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.