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 research note published on Wednesday.

Several other research firms have also commented on RRX. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Citigroup assumed coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 target price on the stock. Barclays dropped 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 report on Wednesday. Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. 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 report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $203.25.

Regal Rexnord Trading Down 3.8 %

Shares of Regal Rexnord stock opened at $149.36 on Wednesday. The firm’s 50 day simple moving average is $166.70 and its two-hundred day simple moving average is $160.52. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 47.12, a PEG ratio of 1.83 and a beta of 1.04. 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.

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. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company posted $2.10 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. Analysts predict that Regal Rexnord will post 9.24 EPS for the current year.

Regal Rexnord Dividend Announcement

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

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in Regal Rexnord during the 2nd quarter worth approximately $46,000. UMB Bank n.a. grew its holdings in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. grew its holdings in Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares in the last quarter. Finally, Quarry LP grew its holdings in Regal Rexnord by 752.9% during the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after acquiring an additional 768 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other 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.