Regal Rexnord (NYSE:RRX) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Regal Rexnord (NYSE:RRX) in a research report released on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $200.00 price target on the stock.

Several other equities analysts also recently commented on the company. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the company an “overweight” rating in a research report on Thursday, June 26th. Citigroup restated a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Wall Street Zen raised shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $173.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Barclays raised their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $183.67.

Regal Rexnord Price Performance

Regal Rexnord stock opened at $140.14 on Monday. Regal Rexnord has a 12-month low of $90.56 and a 12-month high of $185.28. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $147.84 and a 200-day moving average price of $133.28. The firm has a market capitalization of $9.30 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, equities research analysts forecast that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord’s dividend payout ratio (DPR) is currently 37.23%.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Regal Rexnord during the 2nd quarter valued at $256,155,000. Nordea Investment Management AB bought a new stake in Regal Rexnord during the second quarter valued at about $224,889,000. Nuveen LLC purchased a new position in Regal Rexnord in the first quarter valued at about $117,996,000. Viking Global Investors LP raised its holdings in Regal Rexnord by 25.7% in the second 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. Finally, Invesco Ltd. lifted its position in shares of Regal Rexnord by 76.3% during the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock valued at $106,203,000 after buying an additional 403,845 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

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.