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

Shares of Regal Rexnord Corporation (NYSE:RRX) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $228.50.

Several research firms have commented on RRX. Citigroup raised their target price on shares of Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Robert W. Baird set a $253.00 price objective on shares of Regal Rexnord in a report on Friday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Barclays boosted their target price on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd.

Regal Rexnord Trading Down 4.0%

NYSE:RRX opened at $187.24 on Friday. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $229.30. The stock has a market cap of $12.46 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 1.81 and a beta of 1.05. The business has a fifty day moving average of $192.80 and a 200-day moving average of $160.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15.

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

Regal Rexnord Dividend Announcement

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

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 36,728 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the completion of the sale, the chief executive officer directly owned 83,337 shares of the company’s stock, valued at approximately $17,960,790.24. This represents a 30.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total transaction of $810,000.00. Following the transaction, the director owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 53,451 shares of company stock worth $11,386,689. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRX. Covestor Ltd grew its position in Regal Rexnord by 81.6% during the 4th 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. lifted its holdings in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the third quarter valued at $27,000. Garner Asset Management Corp acquired a new stake in shares of Regal Rexnord in the fourth quarter worth $27,000. Finally, IFP Advisors Inc grew its holdings in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

About Regal Rexnord

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.