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

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $170.63.

A number of equities research analysts have recently issued reports on the company. Oppenheimer dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Barclays decreased their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group decreased their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Robert W. Baird boosted their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a report on Wednesday.

Regal Rexnord Stock Up 1.6%

Shares of Regal Rexnord stock traded up $2.05 on Tuesday, reaching $134.24. 981,133 shares of the company were exchanged, compared to its average volume of 557,182. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 45.51, a PEG ratio of 1.37 and a beta of 1.11. 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 company has a 50-day moving average of $111.89 and a 200 day moving average of $142.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The business's 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 year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, June 30th. Regal Rexnord's payout ratio is 39.89%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RRX. Norges Bank bought a new position in Regal Rexnord during the 4th quarter worth $235,188,000. Nuveen Asset Management LLC increased its position in Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company's stock worth $139,569,000 after buying an additional 399,267 shares during the period. Victory Capital Management Inc. increased its position in Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after buying an additional 363,728 shares during the period. Cartenna Capital LP bought a new position in Regal Rexnord during the 4th quarter worth $55,900,000. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Regal Rexnord by 425.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 400,050 shares of the company's stock worth $62,060,000 after purchasing an additional 323,904 shares in the last quarter. Institutional investors own 99.72% of the company's stock.

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.