Regal Rexnord Co. (NYSE:RRX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Regal Rexnord Co. (NYSE:RRX) have earned a consensus rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $197.00.

A number of equities research analysts have recently weighed in on RRX shares. KeyCorp lifted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Barclays lifted their price objective on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Oppenheimer increased their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th.

Regal Rexnord Stock Down 1.4 %

Shares of RRX opened at $161.97 on Friday. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The stock has a 50 day simple moving average of $169.87 and a two-hundred day simple moving average of $144.61. The firm has a market cap of $10.76 billion, a P/E ratio of -186.17, a P/E/G ratio of 1.66 and a beta of 1.14.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the business earned $2.64 earnings per share. On average, analysts forecast that Regal Rexnord will post 10.05 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 Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.86%. Regal Rexnord’s dividend payout ratio is -160.92%.

Insider Transactions at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total transaction of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock worth $892,301 over the last quarter. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regal Rexnord

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Regal Rexnord by 80.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after buying an additional 226,435 shares during the period. WCM Investment Management LLC increased its stake in Regal Rexnord by 56.8% in the fourth quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after purchasing an additional 52,214 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Regal Rexnord by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock worth $50,649,000 after purchasing an additional 42,110 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Regal Rexnord by 7.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock valued at $548,000 after purchasing an additional 253 shares during the period. Finally, UBS Group AG boosted its position in Regal Rexnord by 58.8% in the 3rd quarter. UBS Group AG now owns 90,990 shares of the company’s stock valued at $13,001,000 after buying an additional 33,689 shares during the period. 99.72% of the stock is owned by 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.