Regal Rexnord (NYSE:RRX) Shares Gap Down to $168.85

Regal Rexnord Co. (NYSE:RRX - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $168.85, but opened at $152.00. Regal Rexnord shares last traded at $161.99, with a volume of 80,890 shares changing hands.

Analyst Ratings Changes

RRX has been the topic of several analyst reports. KeyCorp increased their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, March 25th. Oppenheimer lifted their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, March 13th. Finally, Barclays raised their price objective on Regal Rexnord from $200.00 to $203.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $197.00.

Regal Rexnord Stock Performance

The company has a fifty day moving average of $169.94 and a two-hundred day moving average of $146.36. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The company has a market cap of $10.46 billion, a price-to-earnings ratio of -182.29, a P/E/G ratio of 1.64 and a beta of 1.16.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.02. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business's revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the firm posted $2.22 earnings per share. Equities research analysts anticipate that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. Regal Rexnord's payout ratio is -160.92%.

Insiders Place Their Bets

In related news, EVP Jerrald R. Morton sold 2,992 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas E. Valentyn sold 1,931 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of Regal Rexnord

Several hedge funds have recently modified their holdings of the stock. Xponance Inc. boosted its holdings in Regal Rexnord by 1.2% in the fourth quarter. Xponance Inc. now owns 8,003 shares of the company's stock worth $1,185,000 after acquiring an additional 91 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Regal Rexnord by 2.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company's stock worth $686,000 after purchasing an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Regal Rexnord by 3.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company's stock valued at $591,000 after purchasing an additional 102 shares during the period. Mariner LLC increased its stake in Regal Rexnord by 2.1% during the 3rd quarter. Mariner LLC now owns 5,525 shares of the company's stock valued at $789,000 after purchasing an additional 113 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Regal Rexnord by 3.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,277 shares of the company's stock worth $468,000 after buying an additional 118 shares during the last quarter. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Company Profile

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.