Regal Rexnord (NYSE:RRX) Upgraded at Zacks Research

Zacks Research upgraded shares of Regal Rexnord (NYSE:RRX) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

RRX has been the subject of a number of other research reports. The Goldman Sachs Group decreased their target price on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and lowered their target price for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th. Barclays reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Regal Rexnord in a research report on Monday, November 3rd. Wall Street Zen cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Finally, Citigroup raised their price objective on shares of Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.63.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $140.48 on Tuesday. The stock’s fifty day simple moving average is $141.77 and its 200-day simple moving average is $144.76. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 1.46 and a beta of 1.12. The company has a current ratio of 2.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $167.77.

Regal Rexnord (NYSE:RRX) last released its earnings results on Friday, September 8th. The company reported $2.76 earnings per share for the quarter. The company had revenue of $1.85 billion for the quarter. Regal Rexnord had a return on equity of 9.64% and a net margin of 4.38%. On average, sell-side analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is presently 36.18%.

Insider Activity

In related news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total value of $5,253,697.00. Following the transaction, the chief executive officer directly owned 103,262 shares in the company, valued at approximately $15,096,904.40. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord in the 3rd quarter valued at approximately $27,000. Allworth Financial LP increased its position in Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after buying an additional 90 shares during the period. Root Financial Partners LLC acquired a new position in shares of Regal Rexnord during the third quarter worth approximately $28,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Regal Rexnord by 95.1% during the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.