Regal Rexnord (NYSE:RRX) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Regal Rexnord (NYSE:RRX - Free Report) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $215.00 target price on the stock.

Several other equities analysts have also recently commented on RRX. StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Citigroup started coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 price objective for the company. Robert W. Baird reduced their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Barclays boosted their price target on Regal Rexnord from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Loop Capital reiterated a "buy" rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and an average target price of $205.13.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded up $1.41 during midday trading on Thursday, hitting $171.44. The company's stock had a trading volume of 518,471 shares, compared to its average volume of 453,261. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The stock's 50 day simple moving average is $171.62 and its 200 day simple moving average is $158.40. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 54.21, a PEG ratio of 1.84 and a beta of 1.03. Regal Rexnord has a fifty-two week low of $128.89 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $2.10 EPS. The company's revenue was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that Regal Rexnord will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. Regal Rexnord's dividend payout ratio is currently 44.16%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord 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 completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company's stock, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. American Trust increased its position in Regal Rexnord by 11.5% in the 3rd quarter. American Trust now owns 1,797 shares of the company's stock valued at $298,000 after acquiring an additional 185 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Tidal Investments LLC raised its position in Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock worth $1,262,000 after purchasing an additional 347 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Regal Rexnord by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company's stock worth $404,000 after purchasing an additional 123 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after buying an additional 9,338 shares in the last quarter. Institutional investors and hedge funds 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.