Regal Rexnord Co. (NYSE:RRX) Given Average Rating of “Buy” by Analysts

Regal Rexnord Co. (NYSE:RRX) has been assigned an average rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $197.00.

A number of analysts recently weighed in on RRX shares. Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Barclays upped their target price on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th.

Regal Rexnord Trading Down 1.4 %

Shares of RRX stock opened at $161.97 on Friday. The firm’s 50-day simple moving average is $169.87 and its 200-day simple moving average is $144.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The firm has a market cap of $10.76 billion, a P/E ratio of -186.17, a PEG ratio of 1.66 and a beta of 1.14.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 EPS. As a group, equities analysts forecast that Regal Rexnord will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.86%. Regal Rexnord’s dividend payout ratio is -160.92%.

Insider Buying and Selling at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock valued at $892,301 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its position in shares of Regal Rexnord by 652.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the period. Rise Advisors LLC acquired a new position in Regal Rexnord during the first quarter worth $33,000. GAMMA Investing LLC bought a new position in shares of Regal Rexnord during the fourth quarter valued at $58,000. Riverview Trust Co acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at $75,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Regal Rexnord in the 4th quarter worth about $70,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.