Regal Rexnord (NYSE:RRX) Trading 5.2% Higher

Regal Rexnord Co. (NYSE:RRX)’s stock price rose 5.2% on Tuesday . The stock traded as high as $163.84 and last traded at $163.84. Approximately 15,034 shares were traded during trading, a decline of 97% from the average daily volume of 449,619 shares. The stock had previously closed at $155.81.

Wall Street Analyst Weigh In

RRX has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays cut their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. KeyCorp reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $189.83.

Regal Rexnord Stock Up 5.1 %

The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of -324.51, a P/E/G ratio of 1.56 and a beta of 1.04. The business has a fifty day simple moving average of $154.14 and a two-hundred day simple moving average of $156.86. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm earned $2.56 EPS. Regal Rexnord’s quarterly revenue was down 12.5% on a year-over-year basis. Equities analysts expect that Regal Rexnord Co. will post 9.53 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 27th. This represents a $1.40 annualized dividend and a yield of 0.85%. Regal Rexnord’s dividend payout ratio is -291.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after purchasing an additional 24,847 shares in the last quarter. Capital World Investors lifted its position in Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after buying an additional 296,941 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after acquiring an additional 209,776 shares during the last quarter. Victory Capital Management Inc. increased its position in Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after acquiring an additional 563,853 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock worth $192,338,000 after acquiring an additional 8,159 shares during the last quarter. 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.