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

Shares of Regal Rexnord Co. (NYSE:RRX) have earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. One research 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 analysts that have issued ratings on the stock in the last year is $205.13.

Several research analysts have weighed in on the company. Barclays boosted their price objective on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. Citigroup initiated coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. JPMorgan Chase & Co. boosted its holdings in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after purchasing an additional 28,278 shares during the period. American Trust raised its position in shares of Regal Rexnord by 11.5% in the third quarter. American Trust now owns 1,797 shares of the company’s stock worth $298,000 after buying an additional 185 shares in the last quarter. Franklin Resources Inc. boosted its stake in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares during the period. Tidal Investments LLC grew its position in Regal Rexnord by 4.8% during the third quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock worth $1,262,000 after buying an additional 347 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Regal Rexnord by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock worth $404,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

RRX opened at $155.13 on Wednesday. The firm’s fifty day moving average price is $168.43 and its two-hundred day moving average price is $160.06. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 48.94, a P/E/G ratio of 1.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $2.10 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that Regal Rexnord will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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

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.