Regal Rexnord (NYSE:RRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Regal Rexnord (NYSE:RRX) from a buy rating to a strong-buy rating in a research note released on Saturday.

Other research analysts have also issued reports about the company. Barclays increased their target price on Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Citigroup restated a “buy” rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an “overweight” rating in a research note on Thursday, June 26th. Finally, The Goldman Sachs Group increased their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $186.89.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $140.90 on Friday. The stock has a fifty day moving average price of $148.22 and a 200 day moving average price of $133.18. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market capitalization of $9.35 billion, a P/E ratio of 37.47, a PEG ratio of 1.40 and a beta of 1.18. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last released its earnings results on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company earned $2.29 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Equities research analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 annualized dividend and a yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is 37.23%.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in Regal Rexnord by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 2,818 shares of the company’s stock valued at $437,000 after buying an additional 187 shares during the last quarter. Millennium Management LLC raised its position in shares of Regal Rexnord by 313.6% in the 4th quarter. Millennium Management LLC now owns 241,712 shares of the company’s stock valued at $37,497,000 after purchasing an additional 183,272 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock valued at $139,569,000 after buying an additional 399,267 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Regal Rexnord in the fourth quarter worth $1,363,000. Finally, Quantinno Capital Management LP raised its holdings in Regal Rexnord by 77.1% in the fourth quarter. Quantinno Capital Management LP now owns 9,240 shares of the company’s stock valued at $1,433,000 after acquiring an additional 4,024 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

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.