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

Regal Rexnord Corporation (NYSE:RRX) has been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat Ratings 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 1 year price objective among brokerages that have covered the stock in the last year is $237.80.

RRX has been the topic of several recent research reports. Barclays upped their price objective on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. DA Davidson assumed coverage on shares of Regal Rexnord in a report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, KeyCorp increased their price objective on shares of Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. The trade was a 28.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,305 shares of company stock valued at $6,341,869. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares during the period. Parallel Advisors LLC boosted its stake in Regal Rexnord by 5.6% during the first quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock worth $176,000 after buying an additional 50 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after buying an additional 60 shares during the period. UMB Bank n.a. increased its position in Regal Rexnord by 6.2% during the fourth quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $144,000 after acquiring an additional 60 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Regal Rexnord by 3.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

NYSE:RRX opened at $218.39 on Friday. 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 company has a market capitalization of $14.54 billion, a P/E ratio of 50.79, a P/E/G ratio of 2.05 and a beta of 1.08. Regal Rexnord has a 12 month low of $127.96 and a 12 month high of $247.80. The business’s 50-day moving average is $212.33 and its 200 day moving average is $192.54.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.15 EPS. On average, equities research analysts forecast that Regal Rexnord will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is currently 32.56%.

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.