Wall Street Zen downgraded shares of Regal Rexnord (NYSE:RRX – Free Report) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.
RRX has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Friday, July 17th. KeyCorp lowered their price objective on shares of Regal Rexnord from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Citigroup increased their target price on shares of Regal Rexnord from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wolfe Research set a $250.00 target price on Regal Rexnord in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Regal Rexnord in a report on Monday, July 20th. They issued a “buy” rating and a $286.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.75.
View Our Latest Stock Analysis on RRX
Regal Rexnord Stock Performance
Regal Rexnord (NYSE:RRX – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.58 by $0.41. Regal Rexnord had a net margin of 5.35% and a return on equity of 9.93%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. Equities research analysts predict that Regal Rexnord will post 10.64 earnings per share for the current year.
Regal Rexnord Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is presently 28.87%.
Hedge Funds Weigh In On Regal Rexnord
Several institutional investors and hedge funds have recently added to or reduced their stakes in RRX. Clearstead Trust LLC purchased a new stake in shares of Regal Rexnord in the 2nd quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Regal Rexnord during the 2nd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Regal Rexnord during the 2nd quarter valued at about $43,000. FNY Investment Advisers LLC bought a new stake in Regal Rexnord during the second quarter worth about $43,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Regal Rexnord during the second quarter worth about $46,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.
Regal Rexnord Company Profile
Regal Rexnord Corporation is a global manufacturer of industrial power, motion control and automation products. The company supplies electric motors, generators, gearboxes, bearings, couplings, clutches, brakes and related power-transmission equipment used to move, control and manage energy in industrial and commercial applications.
Its product portfolio also includes automation and motion-control technologies, conveyor and material-handling systems, precision components, and solutions designed to improve the efficiency and reliability of machinery.
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