Regal Rexnord (NYSE:RRX) Rating Increased to Strong-Buy at Wall Street Zen
by Sarita Garza · The Markets DailyWall Street Zen upgraded shares of Regal Rexnord (NYSE:RRX – Free Report) from a buy rating to a strong-buy rating in a report issued on Saturday morning.
A number of other equities research analysts also recently weighed in on the company. KeyCorp lifted their price objective on Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Citigroup increased their target price on Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. The Goldman Sachs Group raised their target price on Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Oppenheimer boosted their price target on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $228.50.
Check Out Our Latest Report on Regal Rexnord
Regal Rexnord Trading Down 0.1%
Shares of Regal Rexnord stock opened at $183.81 on Friday. Regal Rexnord has a 52-week low of $90.56 and a 52-week high of $229.30. The firm has a market capitalization of $12.24 billion, a PE ratio of 43.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The company’s fifty day moving average price is $196.03 and its two-hundred day moving average price is $162.58.
Regal Rexnord (NYSE:RRX – Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. On average, analysts expect that Regal Rexnord will post 9.95 EPS for the current year.
Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Regal Rexnord’s dividend payout ratio (DPR) is presently 33.33%.
Insider Activity
In other news, CEO Louis V. Pinkham sold 36,728 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the completion of the transaction, the chief executive officer owned 83,337 shares in the company, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Curtis W. Stoelting sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the transaction, the director directly owned 15,617 shares in the company, valued at $2,811,060. The trade was a 22.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 53,451 shares of company stock worth $11,386,689. 0.82% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Regal Rexnord
Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in shares of Regal Rexnord by 208.1% in the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after buying an additional 11,987 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after acquiring an additional 295 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Cetera Investment Advisers increased its position in Regal Rexnord by 6.7% in the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock valued at $452,000 after acquiring an additional 196 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Regal Rexnord by 135.1% in the second quarter. Hsbc Holdings PLC now owns 22,439 shares of the company’s stock worth $3,269,000 after acquiring an additional 12,896 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.
Regal Rexnord Company Profile
Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company’s operations are organized into multiple business segments that address distinct customer needs.