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

Shares of Regal Rexnord Corporation (NYSE:RRX) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $179.6250.

Several equities research analysts have commented on RRX shares. Barclays reiterated an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a research note on Monday, November 3rd. KeyCorp cut their price objective on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Jefferies Financial Group cut Regal Rexnord from a “buy” rating to a “hold” rating and lowered their target price for the stock from $170.00 to $160.00 in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, October 31st.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 35,935 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the transaction, the chief executive officer owned 103,262 shares in the company, valued at approximately $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Regal Rexnord during the 3rd quarter worth $27,000. Allworth Financial LP lifted its holdings in Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC bought a new position in Regal Rexnord during the third quarter worth about $28,000. SJS Investment Consulting Inc. increased its stake in shares of Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after purchasing an additional 97 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Up 1.4%

Shares of Regal Rexnord stock traded up $2.16 on Friday, hitting $160.32. The company had a trading volume of 538,144 shares, compared to its average volume of 573,944. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $167.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. The stock has a 50 day moving average of $144.44 and a 200-day moving average of $145.58. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 41.43, a P/E/G ratio of 1.48 and a beta of 1.12.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.05). Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%.The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company posted $2.49 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Regal Rexnord’s dividend payout ratio (DPR) is presently 36.18%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.