Regal Rexnord Co. (NYSE:RRX – Get Free Report) has been given an average rating of “Moderate Buy” by the nine brokerages that are presently 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 1-year price target among brokers that have covered the stock in the last year is $202.00.
Several equities research analysts have issued reports on RRX shares. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Citigroup decreased their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird decreased their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group upped 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. Finally, Barclays reduced their price objective 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, January 8th.
Insider Activity at Regal Rexnord
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in RRX. Tobam purchased a new stake in shares of Regal Rexnord in the fourth quarter worth approximately $45,000. Tectonic Advisors LLC raised its position in Regal Rexnord by 26.0% during the fourth quarter. Tectonic Advisors LLC now owns 2,504 shares of the company’s stock valued at $388,000 after acquiring an additional 517 shares in the last quarter. Yorktown Management & Research Co Inc raised its position in Regal Rexnord by 24.4% during the fourth quarter. Yorktown Management & Research Co Inc now owns 4,075 shares of the company’s stock valued at $632,000 after acquiring an additional 800 shares in the last quarter. Trust Point Inc. raised its position in Regal Rexnord by 9.1% during the fourth quarter. Trust Point Inc. now owns 1,923 shares of the company’s stock valued at $298,000 after acquiring an additional 160 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Regal Rexnord by 33.9% in the fourth quarter. Jennison Associates LLC now owns 175,702 shares of the company’s stock valued at $27,257,000 after purchasing an additional 44,447 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.
Regal Rexnord Price Performance
RRX opened at $160.90 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 52-week low of $130.94 and a 52-week high of $185.28. The company has a 50 day moving average of $163.06 and a two-hundred day moving average of $162.88. The company has a market cap of $10.66 billion, a P/E ratio of 50.76, a P/E/G ratio of 1.57 and a beta of 1.04.
Regal Rexnord (NYSE:RRX – Get Free Report) last released its quarterly earnings data 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. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.
Regal Rexnord Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Regal Rexnord’s dividend payout ratio (DPR) 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.
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