Regal Rexnord (NYSE:RRX) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Regal Rexnord (NYSE:RRX) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Several other equities research analysts also recently weighed in on RRX. Robert W. Baird decreased their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays decreased their price objective on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Regal Rexnord Stock Up 0.8 %

Shares of NYSE:RRX opened at $158.55 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $164.80 and a 200-day simple moving average of $161.10. The company has a market capitalization of $10.50 billion, a PE ratio of 50.02, a P/E/G ratio of 1.44 and a beta of 1.04. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts predict that Regal Rexnord will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.88%. Regal Rexnord’s payout ratio is currently 44.16%.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Several institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in shares of Regal Rexnord by 3.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 23,772 shares of the company’s stock worth $3,688,000 after purchasing an additional 814 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at $811,000. GAMMA Investing LLC boosted its stake in shares of Regal Rexnord by 28.3% during the fourth quarter. GAMMA Investing LLC now owns 1,079 shares of the company’s stock valued at $167,000 after acquiring an additional 238 shares during the last quarter. JPMorgan Chase & Co. increased its position in Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after purchasing an additional 28,278 shares in the last quarter. Finally, American Trust raised its stake in Regal Rexnord by 11.5% in the 3rd quarter. American Trust now owns 1,797 shares of the company’s stock valued at $298,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other 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.