Regal Rexnord Corporation (NYSE:RRX) Receives Average Recommendation of “Moderate Buy” from Analysts

Regal Rexnord Corporation (NYSE:RRX) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $247.00.

RRX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Regal Rexnord in a research note on Monday, July 20th. They issued a “buy” rating and a $286.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating on shares of Regal Rexnord in a research note on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Friday, July 17th. KeyCorp increased their price target on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Citigroup raised their price objective on Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 14th.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the transaction, the chief executive officer owned 56,749 shares in the company, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total value of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,305 shares of company stock valued at $6,341,869. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Regal Rexnord

Hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in Regal Rexnord by 8.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 18,914 shares of the company’s stock valued at $4,505,000 after buying an additional 1,400 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Regal Rexnord in the 2nd quarter worth $43,000. GAMMA Investing LLC grew its stake in shares of Regal Rexnord by 6.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock worth $567,000 after acquiring an additional 142 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Regal Rexnord by 27.0% in the 2nd quarter. Avior Wealth Management LLC now owns 2,150 shares of the company’s stock worth $512,000 after acquiring an additional 457 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Regal Rexnord by 9.8% in the second quarter. Central Pacific Bank Trust Division now owns 3,695 shares of the company’s stock valued at $880,000 after purchasing an additional 330 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $186.91 on Thursday. Regal Rexnord has a 12-month low of $127.96 and a 12-month high of $247.80. The company’s 50 day moving average price is $212.97 and its two-hundred day moving average price is $201.04. The firm has a market cap of $12.44 billion, a PE ratio of 43.47, a PEG ratio of 1.35 and a beta of 1.08. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. Equities research analysts predict that Regal Rexnord will post 10.65 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 32.56%.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.