Regal Rexnord (NYSE:RRX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRX) from a hold rating to a buy rating in a research report report published on Wednesday morning.

RRX has been the topic of a number of other research reports. Oppenheimer boosted their target price on Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a report on Wednesday, March 13th. KeyCorp boosted their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an overweight rating in a research note on Monday, March 25th. Robert W. Baird raised their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an outperform rating in a research note on Wednesday, May 8th. Finally, Barclays dropped their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an overweight rating on the stock in a research note on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $192.00.

Regal Rexnord Stock Down 0.6 %

RRX stock opened at $135.22 on Wednesday. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The company has a market cap of $8.99 billion, a price-to-earnings ratio of -281.71, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The company has a fifty day moving average price of $151.63 and a 200 day moving average price of $154.80.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.22 earnings per share. Sell-side analysts expect that Regal Rexnord will post 9.82 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. Regal Rexnord’s payout ratio is currently -291.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRX. Vanguard Group Inc. grew its stake in Regal Rexnord by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after acquiring an additional 24,847 shares during the last quarter. Capital World Investors increased its stake in shares of Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Regal Rexnord by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock worth $522,892,000 after purchasing an additional 135,154 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Regal Rexnord by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock valued at $206,862,000 after buying an additional 30,688 shares in the last quarter. Finally, Norges Bank acquired a new stake in Regal Rexnord during the 4th quarter valued at $180,918,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.