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

Regal Rexnord Co. (NYSE:RRX) has received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $170.75.

RRX has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. KeyCorp lowered their target price on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group cut their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. StockNews.com downgraded Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays reduced their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th.

Regal Rexnord Trading Down 1.6 %

RRX opened at $98.90 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The business has a 50 day simple moving average of $120.47 and a two-hundred day simple moving average of $149.85. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 1.37 and a beta of 1.09. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Analysts predict that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.35 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in Regal Rexnord by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 2,451 shares of the company’s stock valued at $403,000 after purchasing an additional 167 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Regal Rexnord by 53.2% in the third quarter. Quantinno Capital Management LP now owns 5,216 shares of the company’s stock valued at $865,000 after buying an additional 1,811 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Regal Rexnord by 8.0% in the third quarter. Stifel Financial Corp now owns 60,750 shares of the company’s stock worth $10,077,000 after buying an additional 4,516 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in Regal Rexnord by 13.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,295 shares of the company’s stock worth $383,000 after acquiring an additional 265 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after acquiring an additional 100 shares in the last quarter. 99.72% of the stock is 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.