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

Regal Rexnord Co. (NYSE:RRX) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $193.63.

A number of research analysts have recently commented on RRX shares. Robert W. Baird raised their price target on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James started coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup began coverage on shares of Regal Rexnord in a research note on Monday. They set a “buy” rating and a $200.00 price objective on the stock. The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday.

Regal Rexnord Trading Down 0.7 %

Shares of NYSE:RRX opened at $176.54 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The company’s 50-day moving average price is $162.49 and its 200 day moving average price is $156.15. The company has a market cap of $11.75 billion, a PE ratio of -8,827.00, a P/E/G ratio of 1.87 and a beta of 1.04. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. The business’s revenue was down 12.5% on a year-over-year basis. Sell-side analysts anticipate that Regal Rexnord will post 9.48 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, September 27th. Regal Rexnord’s payout ratio is -7,000.00%.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Regal Rexnord by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after buying an additional 24,847 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Regal Rexnord by 18.5% in the 1st quarter. NBC Securities Inc. now owns 1,457 shares of the company’s stock valued at $262,000 after acquiring an additional 227 shares in the last quarter. GAMMA Investing LLC boosted its stake in Regal Rexnord by 44.9% in the 1st quarter. GAMMA Investing LLC now owns 568 shares of the company’s stock worth $102,000 after purchasing an additional 176 shares during the period. Mather Group LLC. purchased a new position in Regal Rexnord during the 1st quarter worth approximately $201,000. Finally, Rise Advisors LLC acquired a new stake in Regal Rexnord during the 1st quarter valued at $33,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

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.