Regal Rexnord Co. (NYSE:RRX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $205.13.

Several research analysts have commented on the company. Loop Capital restated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Citigroup initiated coverage on Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Barclays boosted their price objective on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th.

Regal Rexnord Trading Down 1.8 %

Shares of NYSE RRX opened at $156.11 on Wednesday. The business’s 50 day moving average price is $167.21 and its 200-day moving average price is $160.59. Regal Rexnord has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, sell-side analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after acquiring an additional 563,853 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Regal Rexnord during the 3rd quarter worth about $83,460,000. Westfield Capital Management Co. LP raised its stake in shares of Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock valued at $162,483,000 after buying an additional 399,649 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Regal Rexnord by 24.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after buying an additional 222,775 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Regal Rexnord by 7.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after buying an additional 209,776 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

About Regal Rexnord

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.