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

Regal Rexnord Corporation (NYSE:RRX) has earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $237.80.

Several brokerages have recently weighed in on RRX. Citigroup increased their price target on Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, April 13th. KeyCorp boosted their price objective on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. UBS Group set a $260.00 price objective on Regal Rexnord in a research report on Monday, June 15th. Barclays increased their target price on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Finally, Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

Insider Buying and Selling

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

Institutional Trading of Regal Rexnord

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd boosted its holdings in shares of Regal Rexnord by 81.6% in the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. increased its holdings in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Garner Asset Management Corp purchased a new position in Regal Rexnord during the 4th quarter worth $27,000. IFP Advisors Inc increased its holdings in 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 purchasing an additional 49 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Regal Rexnord during the 3rd quarter valued at $35,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $218.39 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. Regal Rexnord has a 1-year low of $127.96 and a 1-year high of $247.80. The firm has a market capitalization of $14.54 billion, a P/E ratio of 50.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The company’s 50-day moving average is $212.33 and its 200 day moving average is $192.54.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $2.15 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts forecast that Regal Rexnord will post 10.64 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio is presently 32.56%.

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.