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

Shares of Regal Rexnord Corporation (NYSE:RRX) have received an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $232.25.

Several research analysts have recently issued reports on RRX shares. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Barclays increased their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. increased their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Citigroup increased their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, KeyCorp increased their price target on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th.

Regal Rexnord Trading Up 0.1%

Shares of Regal Rexnord stock opened at $212.51 on Wednesday. The company has a fifty day simple moving average of $205.28 and a 200-day simple moving average of $184.69. Regal Rexnord has a 12-month low of $127.96 and a 12-month high of $236.35. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 2.00 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $2.15 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Regal Rexnord will post 10.63 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio is currently 32.56%.

Insider Buying and Selling

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director owned 5,503 shares in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the transaction, the chief executive officer owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. The trade was a 28.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,305 shares of company stock worth $6,341,869 in the last 90 days. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently bought and sold shares of RRX. Victory Capital Management Inc. raised its position in Regal Rexnord by 138.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock worth $566,981,000 after buying an additional 2,303,373 shares during the last quarter. Bank of New York Mellon Corp raised its position in Regal Rexnord by 115.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock worth $343,859,000 after buying an additional 984,185 shares during the last quarter. Bessemer Group Inc. raised its position in Regal Rexnord by 4,155.4% during the 1st quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock worth $171,541,000 after buying an additional 894,527 shares during the last quarter. Norges Bank purchased a new position in Regal Rexnord during the 4th quarter worth $121,301,000. Finally, Viking Global Investors LP increased its holdings in shares of Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

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.