Regal Rexnord (NYSE:RRX) Upgraded at StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Barclays lowered their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $203.25.

Regal Rexnord Trading Down 3.8 %

Shares of RRX stock opened at $149.36 on Wednesday. Regal Rexnord has a 12-month low of $130.94 and a 12-month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $166.70 and its 200 day moving average is $160.52. The stock has a market capitalization of $9.89 billion, a P/E ratio of 47.12, a P/E/G 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, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $2.10 earnings per share. Research analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value 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. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently added to or reduced their stakes in RRX. National Bank of Canada FI grew its holdings in Regal Rexnord by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 11,206 shares of the company’s stock valued at $1,476,000 after purchasing an additional 431 shares during the last quarter. Choreo LLC purchased a new stake in Regal Rexnord in the 2nd quarter valued at about $394,000. Texas Permanent School Fund Corp boosted its position in Regal Rexnord by 7.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 62,101 shares of the company’s stock valued at $8,397,000 after buying an additional 4,076 shares during the period. Headlands Technologies LLC purchased a new stake in Regal Rexnord in the 2nd quarter valued at about $46,000. Finally, Qsemble Capital Management LP boosted its position in Regal Rexnord by 376.6% in the 2nd quarter. Qsemble Capital Management LP now owns 5,300 shares of the company’s stock valued at $717,000 after buying an additional 4,188 shares during the period. 99.72% of the stock is currently owned by 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.