Regal Rexnord Corporation (NYSE:RRX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Regal Rexnord Corporation (NYSE:RRX) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $247.00.

A number of research firms recently weighed in on RRX. JPMorgan Chase & Co. upped their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Regal Rexnord in a report on Monday, July 20th. They issued a “buy” rating and a $286.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Friday, July 17th. KeyCorp increased their price objective on Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, UBS Group set a $260.00 price objective on Regal Rexnord in a research note on Monday, June 15th.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer owned 56,749 shares of the company’s stock, valued at approximately $12,012,628.32. This represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the transaction, the director directly owned 5,503 shares in the company, valued at approximately $1,176,816.55. This represents a 19.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,305 shares of company stock worth $6,341,869. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Regal Rexnord

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd grew its stake in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Garner Asset Management Corp purchased a new stake in Regal Rexnord during the 4th quarter valued at about $27,000. IFP Advisors Inc grew its position in Regal Rexnord by 34.0% during the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Regal Rexnord in the 3rd quarter worth approximately $35,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 7.9%

Shares of Regal Rexnord stock opened at $186.91 on Thursday. Regal Rexnord has a 1 year low of $127.96 and a 1 year high of $247.80. The firm has a market cap of $12.44 billion, a PE ratio of 43.47, a P/E/G ratio of 1.35 and a beta of 1.08. The stock has a fifty day moving average price of $212.97 and a 200-day moving average price of $201.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share. Equities research analysts anticipate that Regal Rexnord will post 10.65 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 annualized dividend and a yield of 0.7%. Regal Rexnord’s payout ratio is 32.56%.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.