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

Regal Rexnord Corporation (NYSE:RRX) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $227.50.

RRX has been the topic of several recent analyst reports. Oppenheimer increased their price target on shares of Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a research note on Friday, February 6th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and decreased their price objective for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th. Finally, KeyCorp upped their target price on Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the transaction, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 36,728 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the sale, the chief executive officer owned 83,337 shares of the company’s stock, valued at $17,960,790.24. This trade represents a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,451 shares of company stock worth $11,386,689 in the last quarter. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regal Rexnord

Several large investors have recently modified their holdings of the stock. Covestor Ltd grew its position in Regal Rexnord by 81.6% in the 4th 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. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the third quarter valued at about $27,000. Garner Asset Management Corp purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at about $27,000. IFP Advisors Inc increased its stake in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares during the period. Finally, Allworth Financial LP raised its holdings in Regal Rexnord by 85.7% during the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE:RRX opened at $220.86 on Monday. Regal Rexnord has a 12 month low of $90.56 and a 12 month high of $229.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The firm has a market capitalization of $14.69 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05. The business’s fifty day moving average price is $175.47 and its 200 day moving average price is $154.72.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio (DPR) is 33.33%.

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.