Regal Rexnord (NYSE:RRX) Receives New Coverage from Analysts at Raymond James

Raymond James assumed coverage on shares of Regal Rexnord (NYSE:RRX) in a report published on Friday, MarketBeat.com reports. The brokerage issued a market perform rating on the stock.

RRX has been the subject of several other research reports. StockNews.com upgraded shares of Regal Rexnord from a hold rating to a buy rating in a research note on Wednesday. Oppenheimer increased their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. Barclays reduced their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an overweight rating for the company in a research note on Tuesday, June 4th. KeyCorp raised their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Finally, Robert W. Baird raised their price target 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $192.00.

Regal Rexnord Stock Down 0.6 %

Shares of NYSE:RRX opened at $135.22 on Friday. The stock’s 50-day moving average is $151.63 and its 200-day moving average is $154.62. 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.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company earned $2.22 earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts forecast that Regal Rexnord will post 9.82 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, June 28th. 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. Xponance Inc. raised its stake in shares of Regal Rexnord by 1.2% in the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock valued at $1,185,000 after acquiring an additional 91 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Regal Rexnord by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after acquiring an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Regal Rexnord by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after acquiring an additional 102 shares during the last quarter. Mariner LLC raised its stake in shares of Regal Rexnord by 2.1% in the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after acquiring an additional 113 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its stake in shares of Regal Rexnord by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,697 shares of the company’s stock valued at $486,000 after acquiring an additional 113 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.