Regal Rexnord (NYSE:RRX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Regal Rexnord (NYSE:RRX) from a strong-buy rating to a buy rating in a research note released on Thursday.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays decreased their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Loop Capital reiterated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. Finally, Robert W. Baird cut their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $158.55 on Thursday. The business’s fifty day moving average price is $164.80 and its 200 day moving average price is $161.10. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $10.50 billion, a P/E ratio of 50.02, a PEG ratio of 1.44 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. Regal Rexnord’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that Regal Rexnord will post 9.24 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.88%. Regal Rexnord’s payout ratio is currently 44.16%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in Regal Rexnord by 1.3% in the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after purchasing an additional 24,860 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Regal Rexnord by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock worth $192,338,000 after buying an additional 8,159 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Regal Rexnord by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,289,917 shares of the company’s stock worth $213,971,000 after acquiring an additional 83,823 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after acquiring an additional 77,215 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Regal Rexnord by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,137,746 shares of the company’s stock valued at $188,729,000 after acquiring an additional 12,301 shares during the period. 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.