Regal Rexnord (NYSE:RRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Regal Rexnord (NYSE:RRX) from a hold rating to a buy rating in a research note published on Wednesday morning.

RRX has been the subject of a number of other research reports. Barclays upped their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Citigroup assumed coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating for the company. Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, KeyCorp lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.63.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $177.08 on Wednesday. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85. The company’s 50-day moving average is $162.96 and its two-hundred day moving average is $156.03. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The company has a market cap of $11.78 billion, a PE ratio of -368.92, a PEG ratio of 1.87 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $2.56 earnings per share. Regal Rexnord’s revenue was down 12.5% compared to the same quarter last year. Equities analysts anticipate that Regal Rexnord will post 9.48 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Trading of Regal Rexnord

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Regal Rexnord in the 1st quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord in the second quarter valued at approximately $46,000. UMB Bank n.a. lifted its position in shares of Regal Rexnord by 72.5% in 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. EntryPoint Capital LLC acquired a new position in Regal Rexnord during the first quarter worth $68,000. Finally, 1620 Investment Advisors Inc. bought a new position in Regal Rexnord in the second quarter valued at $52,000. 99.72% of the stock is currently owned by institutional investors.

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.