Regal Rexnord Co. (NYSE:RRX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Regal Rexnord Co. (NYSE:RRX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $171.25.

A number of analysts have recently issued reports on RRX shares. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Citigroup boosted their target price on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. KeyCorp decreased their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Barclays upped their price target on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, May 12th.

Insider Activity

In related news, CEO Louis V. Pinkham sold 10,593 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the transaction, the chief executive officer now directly owns 175,954 shares in the company, valued at $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Regal Rexnord

Several large investors have recently added to or reduced their stakes in RRX. Norges Bank bought a new position in Regal Rexnord during the fourth quarter worth $235,188,000. Nuveen LLC bought a new position in Regal Rexnord during the first quarter worth $117,996,000. Invesco Ltd. lifted its stake in Regal Rexnord by 76.3% during the first quarter. Invesco Ltd. now owns 932,829 shares of the company's stock worth $106,203,000 after purchasing an additional 403,845 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Regal Rexnord by 79.8% during the fourth quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after purchasing an additional 399,267 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Regal Rexnord by 30.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock worth $194,955,000 after purchasing an additional 396,737 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Down 1.2%

Shares of NYSE RRX traded down $1.57 on Friday, reaching $131.87. 407,066 shares of the company traded hands, compared to its average volume of 747,358. Regal Rexnord has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The company has a 50 day moving average of $117.31 and a 200 day moving average of $138.72. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $8.75 billion, a PE ratio of 44.70, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The company's quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

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.