Regal Rexnord (NYSE:RRX) Downgraded to "Buy" Rating by StockNews.com

StockNews.com downgraded shares of Regal Rexnord (NYSE:RRX - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Other research analysts have also issued research reports about the company. Citigroup reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Tuesday. The Goldman Sachs Group raised their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Robert W. Baird cut their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Loop Capital reaffirmed a "buy" rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Barclays decreased their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.00.

Regal Rexnord Trading Up 0.8 %

Shares of Regal Rexnord stock traded up $1.20 on Thursday, hitting $158.55. The stock had a trading volume of 302,548 shares, compared to its average volume of 465,515. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.44 and a beta of 1.04. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28. The stock's 50-day simple moving average is $164.80 and its two-hundred day simple moving average is $161.10. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts predict that Regal Rexnord will post 9.24 EPS for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, December 31st. Regal Rexnord's dividend payout ratio is presently 44.16%.

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on 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 in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. grew its position in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after purchasing an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in 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 purchasing an additional 100 shares during the period. 1620 Investment Advisors Inc. grew its holdings in Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company's stock valued at $75,000 after buying an additional 67 shares in the last quarter. Quarry LP raised its position in shares of 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 during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Regal Rexnord by 30.0% in the third quarter. GAMMA Investing LLC now owns 841 shares of the company's stock worth $140,000 after buying an additional 194 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

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.