Regal Rexnord (NYSE:RRX) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of Regal Rexnord (NYSE:RRX) in a research note released on Friday, Marketbeat reports. The brokerage issued a market perform rating on the stock.

Other research analysts also recently issued reports about the company. Barclays reduced their price objective on Regal Rexnord from $199.00 to $181.00 and set an overweight rating for the company in a research note on Tuesday, June 4th. StockNews.com upgraded shares of Regal Rexnord from a hold rating to a buy rating in a research report on Wednesday, June 26th. KeyCorp upped their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an overweight rating in a research note on Monday, March 25th. Robert W. Baird raised their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an outperform rating in a research note on Wednesday, May 8th. Finally, Oppenheimer upped their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $192.00.

Regal Rexnord Stock Down 2.3 %

Shares of NYSE RRX opened at $132.13 on Friday. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The company’s 50-day simple moving average is $150.99 and its 200-day simple moving average is $154.81. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of -275.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $2.22 EPS. Regal Rexnord’s revenue was up 26.4% compared to the same quarter last year. Equities analysts predict that Regal Rexnord will post 9.82 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RRX. Cary Street Partners Investment Advisory LLC raised its stake in shares of Regal Rexnord by 652.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Rise Advisors LLC acquired a new stake in Regal Rexnord in the 1st quarter valued at approximately $33,000. GAMMA Investing LLC purchased a new stake in Regal Rexnord in the fourth quarter valued at approximately $58,000. EntryPoint Capital LLC acquired a new position in Regal Rexnord during the first quarter worth $68,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Regal Rexnord during the fourth quarter worth $70,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.