Regal Rexnord (NYSE:RRX) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Regal Rexnord (NYSE:RRX) from a buy rating to a strong-buy rating in a research report released on Monday.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. KeyCorp boosted their target price on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Robert W. Baird set a $253.00 target price on shares of Regal Rexnord in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.75.

Regal Rexnord Stock Performance

RRX stock opened at $207.74 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The business has a 50-day moving average price of $201.57 and a 200 day moving average price of $167.20. The company has a market capitalization of $13.83 billion, a P/E ratio of 49.46, a PEG ratio of 1.91 and a beta of 1.11. Regal Rexnord has a 1-year low of $95.05 and a 1-year high of $229.30.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. As a group, equities research analysts forecast that Regal Rexnord will post 10.76 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio is 33.33%.

Insider Activity at Regal Rexnord

In other news, CFO Robert Rehard sold 7,704 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the transaction, the chief financial officer owned 34,154 shares in the company, valued at $7,401,854.88. This represents a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Louis V. Pinkham sold 36,728 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the transaction, the chief executive officer owned 83,337 shares in the company, valued at approximately $17,960,790.24. This trade represents a 30.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 53,451 shares of company stock worth $11,386,689. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently modified their holdings of RRX. Covestor Ltd increased its holdings in shares of Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after acquiring an additional 80 shares in 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 valued at $25,000 after acquiring an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the third quarter valued at about $27,000. Garner Asset Management Corp acquired a new position in shares of Regal Rexnord during the fourth quarter valued at about $27,000. Finally, IFP Advisors Inc increased its holdings in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Company Profile

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.