Key Points
- CFO Robert Rehard sold 1,289 shares on Feb. 24 at an average of $223.13 for $287,614.57 and made additional recent sales (968 on Feb. 25 and 7,704 on Feb. 9), trimming his stake by 3.51% to 35,415 shares (~$7.9M).
- The company beat EPS estimates this quarter (EPS $2.51 vs. $2.47) while revenue was $1.52B (slightly under consensus), and it declared a $0.35 quarterly dividend ($1.40 annual, ~0.6% yield).
- Analysts are largely positive with a consensus rating of “Moderate Buy” and a $227.50 average target; Citigroup and Oppenheimer recently lifted price targets to $230 and $225, and the stock is trading near its 52-week high (~$229.30).
Regal Rexnord Corporation (NYSE:RRX - Get Free Report) CFO Robert Rehard sold 968 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the transaction, the chief financial officer owned 34,447 shares of the company's stock, valued at $7,681,681. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Robert Rehard also recently made the following trade(s):
- On Tuesday, February 24th, Robert Rehard sold 1,289 shares of Regal Rexnord stock. The shares were sold at an average price of $223.13, for a total transaction of $287,614.57.
- On Monday, February 9th, Robert Rehard sold 7,704 shares of Regal Rexnord stock. The stock was sold at an average price of $216.72, for a total transaction of $1,669,610.88.
Regal Rexnord Trading Down 1.6%
Shares of RRX stock opened at $217.36 on Friday. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 2.05 and a beta of 1.13. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $229.30. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The company's fifty day simple moving average is $173.85 and its two-hundred day simple moving average is $154.06.
Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The firm's quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts anticipate that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.
Regal Rexnord Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord's dividend payout ratio (DPR) is 33.33%.
Analyst Ratings Changes
Several analysts have issued reports on RRX shares. JPMorgan Chase & Co. increased their target price on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Weiss Ratings restated a "hold (c)" rating on shares of Regal Rexnord in a research report on Thursday, January 22nd. Oppenheimer increased their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Robert W. Baird set a $253.00 price objective on Regal Rexnord in a research note on Friday, February 6th. Finally, Barclays boosted their target price on Regal Rexnord from $165.00 to $237.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.50.
Read Our Latest Stock Analysis on RRX
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRX. Victory Capital Management Inc. raised its position in Regal Rexnord by 138.4% during the third quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company's stock valued at $566,981,000 after purchasing an additional 2,303,373 shares in the last quarter. Norges Bank purchased a new position in shares of Regal Rexnord in the 2nd quarter worth about $256,155,000. Viking Global Investors LP boosted its holdings in shares of Regal Rexnord by 25.7% in the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company's stock worth $497,231,000 after purchasing an additional 701,145 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Regal Rexnord by 30.7% during the 3rd quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company's stock valued at $289,083,000 after purchasing an additional 476,802 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Regal Rexnord by 27.1% during the 4th quarter. Invesco Ltd. now owns 1,905,828 shares of the company's stock valued at $267,426,000 after buying an additional 405,828 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.
Regal Rexnord Company Profile
(
Get Free Report)
Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company's operations are organized into multiple business segments that address distinct customer needs.
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