Regal Rexnord (NYSE:RRX) Stock Price Up 5.2%

Shares of Regal Rexnord Co. (NYSE:RRX) traded up 5.2% during trading on Tuesday . The stock traded as high as $163.84 and last traded at $163.84. 15,034 shares were traded during mid-day trading, a decline of 97% from the average session volume of 449,619 shares. The stock had previously closed at $155.81.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRX shares. The Goldman Sachs Group increased their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Raymond James began coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird lifted their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, KeyCorp cut 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.83.

Regal Rexnord Price Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The firm has a market capitalization of $11.03 billion, a P/E ratio of -345.40, a PEG ratio of 1.56 and a beta of 1.04. The company’s 50 day moving average price is $155.31 and its 200 day moving average price is $156.87.

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

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds have recently bought and sold shares of the company. American Trust acquired a new stake in Regal Rexnord during the 2nd quarter worth $218,000. Sanctuary Advisors LLC bought a new position in Regal Rexnord in the second quarter valued at approximately $263,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Regal Rexnord in the second quarter valued at approximately $292,000. Quarry LP increased its position in shares of Regal Rexnord by 752.9% during the second quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after acquiring an additional 768 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Regal Rexnord by 28.5% during the second quarter. Creative Planning now owns 2,805 shares of the company’s stock worth $379,000 after acquiring an additional 622 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.