Regal Rexnord Co. (NYSE:RRX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $171.25.

A number of equities research analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. KeyCorp lowered their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Barclays raised their price target on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th.

Regal Rexnord Stock Performance

RRX stock traded up $0.42 during midday trading on Friday, reaching $136.45. 519,629 shares of the company were exchanged, compared to its average volume of 576,756. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The business has a 50-day moving average price of $118.16 and a two-hundred day moving average price of $138.42. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

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

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 39.89%.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total value of $1,486,515.69. Following the transaction, the chief executive officer now directly owns 175,954 shares of the company's stock, 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 legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ lifted its stake in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after buying an additional 127 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Regal Rexnord in the 4th quarter valued at $30,000. Golden State Wealth Management LLC boosted its holdings in shares of Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after acquiring an additional 138 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord during the 4th quarter worth $33,000. 99.72% of the stock is currently owned by institutional investors.

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.