Regal Rexnord Co. (NYSE:RRX) Sees Significant Increase in Short Interest

Regal Rexnord Co. (NYSE:RRX) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 1,460,000 shares, an increase of 15.9% from the February 13th total of 1,260,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 564,900 shares, the short-interest ratio is presently 2.6 days.

Analysts Set New Price Targets

RRX has been the topic of several recent analyst reports. StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. Oppenheimer decreased their price target 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. Citigroup cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Stock Up 4.0 %

Shares of NYSE RRX traded up $4.73 during mid-day trading on Wednesday, reaching $123.50. The company had a trading volume of 838,962 shares, compared to its average volume of 478,109. Regal Rexnord has a twelve month low of $113.73 and a twelve month high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The stock has a market capitalization of $8.18 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The stock’s 50 day moving average is $141.27 and its 200-day moving average is $157.37.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, equities analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Institutional Investors Weigh In On Regal Rexnord

A number of large investors have recently bought and sold shares of RRX. Wealth Enhancement Advisory Services LLC boosted its holdings in Regal Rexnord by 11.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,478 shares of the company’s stock valued at $540,000 after acquiring an additional 346 shares during the period. Jefferies Financial Group Inc. acquired a new position in Regal Rexnord in the fourth quarter worth about $1,427,000. Bernard Wealth Management Corp. acquired a new position in Regal Rexnord in the fourth quarter worth about $31,000. B. Riley Wealth Advisors Inc. raised its position in Regal Rexnord by 12.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,369 shares of the company’s stock worth $368,000 after purchasing an additional 264 shares in the last quarter. Finally, Integrated Advisors Network LLC acquired a new position in Regal Rexnord in the fourth quarter worth about $319,000. 99.72% of the stock is currently owned by institutional investors.

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.