Regal Rexnord Co. (NYSE:RRX) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $193.00.

Several equities research analysts have weighed in on the company. Barclays upped their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. KeyCorp decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. StockNews.com raised Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Loop Capital reissued a "buy" rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, The Goldman Sachs Group raised their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, August 2nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company's stock worth $254,832,000 after purchasing an additional 563,853 shares in the last quarter. Capital World Investors lifted its stake in shares of Regal Rexnord by 4.7% in the first 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 in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Regal Rexnord by 24.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company's stock worth $152,183,000 after acquiring an additional 222,775 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Regal Rexnord by 7.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company's stock worth $430,255,000 after acquiring an additional 209,776 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Regal Rexnord by 31.5% in the second quarter. Principal Financial Group Inc. now owns 714,179 shares of the company's stock worth $96,571,000 after acquiring an additional 171,069 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Trading Down 2.6 %

NYSE RRX traded down $4.54 on Tuesday, reaching $171.76. 114,344 shares of the company were exchanged, compared to its average volume of 451,776. Regal Rexnord has a fifty-two week low of $108.64 and a fifty-two week high of $185.28. The business's fifty day moving average price is $166.02 and its 200 day moving average price is $156.48. The stock has a market capitalization of $11.38 billion, a P/E ratio of 55.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $2.10 EPS. The company's quarterly revenue was down 10.4% on a year-over-year basis. Analysts forecast that Regal Rexnord will post 9.2 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced 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 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's payout ratio is currently 44.16%.

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.