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

Shares of Regal Rexnord Corporation (NYSE:RRX) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $227.50.

Several brokerages have weighed in on RRX. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price target on Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Robert W. Baird set a $253.00 price objective on Regal Rexnord in a report on Friday, February 6th. Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $170.00 to $160.00 in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th.

Insider Buying and Selling at Regal Rexnord

In related news, EVP Cheryl Lewis sold 2,262 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares of the company’s stock, valued at $2,851,734.87. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Curtis W. Stoelting sold 4,500 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the sale, the director owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. This represents a 22.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 53,451 shares of company stock valued at $11,386,689. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds have recently made changes to their positions in RRX. Covestor Ltd raised its holdings in Regal Rexnord by 81.6% in the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Regal Rexnord in the 3rd quarter worth approximately $27,000. Garner Asset Management Corp purchased a new position in shares of Regal Rexnord in the 4th quarter worth approximately $27,000. Finally, IFP Advisors Inc raised its stake in shares of Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $186.78 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.05. The firm has a 50-day moving average of $181.64 and a two-hundred day moving average of $156.67. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $229.30.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. On average, research analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is currently 33.33%.

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.