Regal Rexnord (NYSE:RRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Regal Rexnord (NYSE:RRX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on RRX. JPMorgan Chase & Co. dropped their price target on Regal Rexnord from $240.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Wolfe Research set a $250.00 price target on Regal Rexnord in a report on Thursday, July 9th. Citigroup reduced their price objective on Regal Rexnord from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, October 12th. KeyCorp lowered their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, October 15th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.50.

Regal Rexnord Stock Up 1.8%

RRX stock opened at $150.54 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.28 and a quick ratio of 1.16. Regal Rexnord has a 52-week low of $127.96 and a 52-week high of $247.80. The company has a 50-day moving average of $158.68 and a two-hundred day moving average of $189.11. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.41. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $2.48 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, equities research analysts anticipate that Regal Rexnord will post 10.64 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Thursday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Regal Rexnord’s dividend payout ratio (DPR) is 28.87%.

Hedge Funds Weigh In On Regal Rexnord

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Regal Rexnord in the 2nd quarter worth approximately $1,477,356,000. Wellington Management Group LLP increased its position in shares of Regal Rexnord by 75.8% during the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company’s stock valued at $615,496,000 after purchasing an additional 1,113,888 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Regal Rexnord during the second quarter valued at approximately $449,281,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Regal Rexnord in the second quarter valued at $254,637,000. Finally, William Blair Investment Management LLC acquired a new position in shares of Regal Rexnord in the second quarter valued at $212,260,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Company Profile

Regal Rexnord Corporation is an industrial manufacturing company that develops and produces electric motors, power transmission components, motion-control systems and other equipment used in industrial and commercial applications. Its products include motors, gearboxes, bearings, couplings, belts, chains, drives, clutches, brakes and related controls, as well as air-moving and power-management solutions.

The company serves customers across industries such as automation, material handling, food and beverage, renewable energy, heating and ventilation, agriculture, and general industrial production.