StockNews.com Lowers Regal Rexnord (NYSE:RRX) to Hold

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

A number of other analysts also recently weighed in on RRX. KeyCorp upped their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Robert W. Baird boosted their target price on Regal Rexnord from $205.00 to $208.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. Barclays reduced their price target on Regal Rexnord from $203.00 to $199.00 and set an overweight rating for the company in a report on Wednesday, May 8th. Finally, Oppenheimer raised their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of Moderate Buy and an average target price of $195.60.

Regal Rexnord Price Performance

RRX opened at $149.56 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The stock’s 50 day simple moving average is $166.97 and its 200 day simple moving average is $149.90. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of -310.13, a PEG ratio of 1.60 and a beta of 1.16. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates 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 company posted $2.22 EPS. As a group, analysts predict that Regal Rexnord will post 9.88 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed 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 is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.94%. Regal Rexnord’s payout ratio is -291.67%.

Insider Buying and Selling

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the 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 owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently bought and sold shares of RRX. FMR LLC lifted its position in shares of Regal Rexnord by 2.1% during the 3rd quarter. FMR LLC now owns 8,978,384 shares of the company’s stock valued at $1,282,831,000 after buying an additional 181,889 shares in the last quarter. Vanguard Group Inc. grew its holdings in Regal Rexnord by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after buying an additional 24,847 shares in the last quarter. Capital World Investors increased its stake in Regal Rexnord by 4.7% in the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after acquiring an additional 296,941 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Regal Rexnord by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock valued at $522,892,000 after acquiring an additional 135,154 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Regal Rexnord by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock valued at $206,862,000 after purchasing an additional 30,688 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.