Regal Rexnord Corporation (NYSE:RRX – Get Free Report) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $231.33.
Several brokerages have weighed in on RRX. Citigroup increased their target price on shares of Regal Rexnord from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, October 15th. Oppenheimer reduced their price target on shares of Regal Rexnord from $245.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Regal Rexnord in a report on Monday, July 20th. They issued a “buy” rating and a $286.00 price objective on the stock. Finally, 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 report on Thursday, August 6th.
Read Our Latest Stock Report on Regal Rexnord
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. IFG Advisory LLC acquired a new stake in shares of Regal Rexnord during the third quarter worth about $597,000. Danica Pension Livsforsikringsaktieselskab boosted its stake in shares of Regal Rexnord by 109.3% in the third quarter. Danica Pension Livsforsikringsaktieselskab now owns 180,000 shares of the company’s stock valued at $27,920,000 after purchasing an additional 94,000 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Regal Rexnord by 6.8% in the third quarter. Moors & Cabot Inc. now owns 4,582 shares of the company’s stock valued at $711,000 after purchasing an additional 291 shares during the period. Allworth Financial LP grew its holdings in shares of Regal Rexnord by 59.6% in the third quarter. Allworth Financial LP now owns 442 shares of the company’s stock valued at $69,000 after purchasing an additional 165 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Regal Rexnord by 43.5% in the third quarter. Russell Investments Group Ltd. now owns 433,455 shares of the company’s stock valued at $67,240,000 after purchasing an additional 131,497 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.
Regal Rexnord Stock Performance
Shares of Regal Rexnord stock opened at $180.72 on Friday. The business’s 50 day moving average price is $158.72 and its 200 day moving average price is $189.68. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 2.21. Regal Rexnord has a one year low of $127.96 and a one year high of $247.80.
Regal Rexnord (NYSE:RRX – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.25. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a net margin of 3.77% and a return on equity of 10.28%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.51 EPS. On average, research analysts predict that Regal Rexnord will post 10.73 EPS for the current year.
Regal Rexnord Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Regal Rexnord’s payout ratio is presently 40.46%.
About Regal Rexnord
Regal Rexnord Corporation designs, manufactures and sells products and systems that transmit power, control motion and move materials. Its offerings include electric motors, gear drives, bearings, couplings, clutches, brakes, conveyor components and automation technologies.
The company serves customers in a range of industries, including industrial manufacturing, food and beverage, energy, commercial buildings and residential applications. Its products are used in equipment and systems such as factory machinery, conveyors, HVAC systems and material-handling operations.
Regal Rexnord was formed in 2021 through the combination of Regal Beloit Corporation and Rexnord Corporation’s Process & Motion Control business.
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