Regal Rexnord (NYSE:RRX) Stock Price Up 5.2%

Regal Rexnord Co. (NYSE:RRX)’s share price was up 5.2% on Tuesday . The company traded as high as $163.84 and last traded at $163.84. Approximately 15,034 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 449,619 shares. The stock had previously closed at $155.81.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RRX. Barclays lowered their price target on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird increased their price target on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. KeyCorp lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Raymond James began coverage on Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $189.83.

Regal Rexnord Stock Up 1.2 %

The firm has a market cap of $11.03 billion, a price-to-earnings ratio of -345.40, a P/E/G ratio of 1.56 and a beta of 1.04. The firm has a fifty day simple moving average of $155.31 and a 200-day simple moving average of $156.87. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

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 negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the business posted $2.56 earnings per share. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that Regal Rexnord Co. will post 9.53 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in shares of Regal Rexnord during the 1st quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord during the 2nd quarter valued at $46,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord during the 2nd quarter worth about $52,000. EntryPoint Capital LLC bought a new position in Regal Rexnord in the first quarter worth approximately $68,000. Finally, Riverview Trust Co bought a new position in shares of Regal Rexnord in the 1st quarter worth $75,000. 99.72% of the stock is currently owned by institutional investors.

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.