Regal Rexnord Corporation (NYSE:RRX) Given Average Recommendation of "Moderate Buy" by Analysts

Regal Rexnord Corporation (NYSE:RRX - Get Free Report) has received an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $173.75.

A number of research analysts have commented on RRX shares. 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 research note on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup boosted their price objective on Regal Rexnord from $145.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays boosted their price target on Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Finally, KeyCorp cut their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th.

Regal Rexnord Trading Up 3.2%

Shares of RRX opened at $145.46 on Wednesday. The stock's 50-day moving average is $128.78 and its two-hundred day moving average is $135.08. The stock has a market cap of $9.65 billion, a PE ratio of 41.44, a P/E/G ratio of 1.44 and a beta of 1.16. Regal Rexnord has a 12 month low of $90.56 and a 12 month high of $185.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. The firm's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Equities analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio is currently 39.89%.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the sale, the chief executive officer now directly owns 175,954 shares of the company's stock, valued at $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of Regal Rexnord

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC increased its holdings in Regal Rexnord by 32.6% in the first quarter. Voya Investment Management LLC now owns 43,698 shares of the company's stock valued at $4,975,000 after buying an additional 10,755 shares during the last quarter. First Hawaiian Bank increased its holdings in Regal Rexnord by 30.0% in the first quarter. First Hawaiian Bank now owns 6,801 shares of the company's stock valued at $774,000 after buying an additional 1,571 shares during the last quarter. Inspire Investing LLC increased its holdings in Regal Rexnord by 57.6% in the first quarter. Inspire Investing LLC now owns 2,640 shares of the company's stock valued at $301,000 after buying an additional 965 shares during the last quarter. Strs Ohio bought a new stake in Regal Rexnord in the first quarter valued at about $6,489,000. Finally, Geneos Wealth Management Inc. increased its holdings in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after buying an additional 127 shares during the last quarter. 99.72% of the stock is 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.

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