Regal Rexnord Corporation (NYSE:RRX – Get Free Report) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $180.63.
Several brokerages recently issued reports on RRX. The Goldman Sachs Group cut their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Robert W. Baird lifted their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a “buy” rating and set a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a research report on Tuesday. Finally, KeyCorp set a $180.00 target price on Regal Rexnord and gave the company an “overweight” rating in a research report on Thursday.
Read Our Latest Stock Analysis on Regal Rexnord
Regal Rexnord Trading Down 0.2%
Regal Rexnord (NYSE:RRX – Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm posted $2.00 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.95%. Regal Rexnord’s dividend payout ratio (DPR) is currently 39.89%.
Insider Buying and Selling
In related news, CEO Louis V. Pinkham sold 10,593 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the transaction, the chief executive officer now directly owns 175,954 shares of the company’s stock, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.
Hedge Funds Weigh In On Regal Rexnord
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Regal Rexnord in the fourth quarter valued at $235,188,000. Nuveen LLC bought a new stake in shares of Regal Rexnord in the first quarter valued at $117,996,000. Invesco Ltd. raised its stake in shares of Regal Rexnord by 76.3% in the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock valued at $106,203,000 after buying an additional 403,845 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Regal Rexnord by 79.8% in the fourth quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock valued at $139,569,000 after buying an additional 399,267 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Regal Rexnord by 30.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock valued at $194,955,000 after buying an additional 396,737 shares during the period. 99.72% of the stock is owned by hedge funds and other 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.
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