Regal Rexnord Co. (NYSE:RRX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $195.75.

A number of analysts recently issued reports on RRX shares. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Barclays dropped their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Citigroup dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th.

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 shares during the period. First Hawaiian Bank acquired a new position in Regal Rexnord in the fourth quarter worth $811,000. PNC Financial Services Group Inc. raised its holdings in shares of Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Up 1.3 %

Shares of RRX stock opened at $116.44 on Monday. The firm has a market cap of $7.72 billion, a P/E ratio of 39.47, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 1-year low of $113.73 and a 1-year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm’s 50-day simple moving average is $142.83 and its 200-day simple moving average is $158.04.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, equities analysts forecast that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

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.