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

Regal Rexnord Corporation (NYSE:RRX - Get Free Report) has been given a consensus rating of "Buy" by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $180.63.

Several analysts have recently issued reports on RRX shares. Barclays upped their target price on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd.

Regal Rexnord Stock Down 0.2%

RRX stock traded down $0.31 during midday trading on Wednesday, reaching $146.69. 1,402,624 shares of the company's stock traded hands, compared to its average volume of 588,358. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The company has a quick ratio of 1.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.82. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 41.79, a P/E/G ratio of 1.48 and a beta of 1.16. The firm's fifty day moving average price is $131.67 and its 200-day moving average price is $134.59.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates 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. As a group, sell-side analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

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 issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction dated 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 approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ lifted its holdings in Regal Rexnord by 472.4% during the fourth 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. lifted its holdings in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Regal Rexnord during the fourth quarter valued at about $30,000. Golden State Wealth Management LLC lifted its holdings in Regal Rexnord by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Regal Rexnord during the fourth quarter valued at about $33,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

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.