Regal Rexnord (NYSE:RRX) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a report released on Tuesday morning.

Other equities research analysts have also issued reports about the company. KeyCorp boosted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Oppenheimer boosted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th. Robert W. Baird boosted their price objective on Regal Rexnord from $205.00 to $208.00 and gave the stock an outperform rating in a research note on Wednesday, May 8th. Finally, Barclays cut their price objective on Regal Rexnord from $203.00 to $199.00 and set an overweight rating for the company in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of Moderate Buy and an average price target of $195.60.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $157.84 on Tuesday. The stock has a market cap of $10.50 billion, a PE ratio of -328.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16. The business has a 50-day simple moving average of $167.72 and a 200-day simple moving average of $149.84. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 EPS. On average, equities analysts expect that Regal Rexnord will post 9.88 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Insider Buying and Selling

In related news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 value of $109,795.90. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas E. Valentyn sold 1,931 shares of the 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 completion of the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Regal Rexnord during the first quarter worth about $33,000. GAMMA Investing LLC purchased a new position in shares of Regal Rexnord during the fourth quarter worth about $58,000. EntryPoint Capital LLC purchased a new position in shares of Regal Rexnord during the first quarter worth about $68,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Regal Rexnord during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

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.