Regal Rexnord (NYSE:RRX) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRX) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Several other research firms have also issued reports on RRX. Barclays dropped their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Citigroup began coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Regal Rexnord presently has an average rating of “Buy” and an average price target of $203.25.

Regal Rexnord Trading Down 0.7 %

NYSE RRX opened at $155.07 on Wednesday. The company’s fifty day moving average price is $167.21 and its two-hundred day moving average price is $160.59. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts predict that Regal Rexnord will post 9.24 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in Regal Rexnord during the second quarter worth approximately $46,000. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the period. Finally, Quarry LP boosted its stake in Regal Rexnord by 752.9% during the second quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after buying an additional 768 shares in the last quarter. 99.72% of the stock is 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.