Regal Rexnord Co. (NYSE:RRX) Receives $193.63 Average PT from Analysts

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $193.63.

RRX has been the subject of a number of recent research reports. Citigroup initiated coverage on shares of Regal Rexnord in a report on Monday. They issued a "buy" rating and a $200.00 price objective for the company. Loop Capital reiterated a "buy" rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a report on Friday, August 2nd. KeyCorp cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Finally, StockNews.com upgraded shares of Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in shares of Regal Rexnord during the 1st quarter worth approximately $33,000. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the 2nd quarter worth approximately $46,000. UMB Bank n.a. boosted 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 worth $57,000 after purchasing an additional 145 shares during the period. EntryPoint Capital LLC purchased a new position in Regal Rexnord in the 1st quarter valued at approximately $68,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Price Performance

Shares of RRX stock traded up $0.65 on Friday, reaching $177.19. 375,449 shares of the company were exchanged, compared to its average volume of 450,104. The company has a market cap of $11.79 billion, a price-to-earnings ratio of -369.56, a P/E/G ratio of 1.87 and a beta of 1.04. The business has a 50-day moving average price of $162.49 and a 200 day moving average price of $156.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter in the previous year, the company earned $2.56 earnings per share. The company's quarterly revenue was down 12.5% on a year-over-year basis. Equities research analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. Regal Rexnord's payout ratio is currently -291.67%.

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.