The stock of Regal Rexnord Corporation (NYSE:RRX) last traded at $148.51, down -1.60% from the previous session.
Data from the available sources indicates that Regal Rexnord Corporation (NYSE:RRX) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $190.00 and a low of $180.00, we find $185.00. Given the previous closing price of $150.92, this indicates a potential upside of 22.58 percent. RRX stock price is now 2.67% away from the 50-day moving average and 10.62% away from the 200-day moving average. The market capitalization of the company currently stands at $10.15B.
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In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $185.33 as their price target over the next twelve months.
In other news, Kunze John C, Segment President* sold 1 shares of the company’s stock on Aug 08. The stock was sold for $139 at an average price of $139.42. Upon completion of the transaction, the Segment President* now directly owns 6,999 shares in the company, valued at $1.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04, Segment President* Kunze John C sold 1,155 shares of the business’s stock. A total of $158,092 was realized by selling the stock at an average price of $136.88. This leaves the insider owning 6,920 shares of the company worth $1.03 million. Insiders disposed of 65,301 shares of company stock worth roughly $9.7 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RRX stock. A new stake in Regal Rexnord Corporation shares was purchased by VIKING GLOBAL INVESTORS LP during the first quarter worth $53,820,000. BANK OF NOVA SCOTIA invested $33,415,000 in shares of RRX during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Regal Rexnord Corporation valued at approximately $31,828,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in RRX for approximately $21,156,000. TWINBEECH CAPITAL LP purchased a new stake in RRX valued at around $17,630,000 in the second quarter.
With an opening price of $148.58 on Monday morning, Regal Rexnord Corporation (NYSE: RRX) set off the trading day. During the past 12 months, Regal Rexnord Corporation has had a low of $108.28 and a high of $164.15. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 3.00, and a quick ratio of 1.70. The fifty day moving average price for RRX is $144.65 and a two-hundred day moving average price translates $134.25 for the stock.
The latest earnings results from Regal Rexnord Corporation (NYSE: RRX) was released for Dec, 2022. According to the Specialty Industrial Machinery Company, earnings per share came in at $2.64, beating analysts’ expectations of $2.39 by 0.25. This compares to -$0.85 EPS in the same period last year. The net profit margin was 9.40% and return on equity was 7.80% for RRX. The company reported revenue of $1.24 billion for the quarter, compared to $1.22 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.31 percent. For the current quarter, analysts expect RRX to generate $1.23B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/14/2023. Investors who held shares on 03/31/2023 were paid a $0.35 dividend. On an annualized basis, this represents a $1.40 dividend and a 0.94% percent yield. There was an ex-dividend date of 03/30/2023 for this dividend. In terms of dividend payout ratio, RRX is presently at 18.60%.
Regal Rexnord Corporation(RRX) Company Profile
Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions. The Commercial Systems segment provides AC and DC motors, electronic variable speed controls, fans, blowers, and precision stator and rotor kits. The Industrial Systems segment offers AC motors for industrial applications; electric alternators for prime and standby power applications to data centers, distributed energy, microgrid, rental marine, agriculture, healthcare, mobile, and defense markets; and switchgear for healthcare, government, and waste water applications, as well as residential, commercial, and industrial applications. The Climate Solutions segment provides fractional motors, electronic variable speed controls, and blowers for use in a residential and light commercial air moving applications; and fractional horsepower motors and blowers for white goods, water heating equipment, small pumps, compressors, and fans. The Motion Control Solutions segment offers bearings; conveyors; disc, gear, grid, elastomeric, and torsionally soft couplings; mechanical power transmission drives and components; worm gearing, shaft configuration, helical, bevel, helical bevel, worm, hypoid, and spur gearing products; and aerospace components. This segment serves beverage, bulk handling, metal, special machinery, energy, and aerospace and general industrial markets. The company sells its products directly to original equipment manufacturers and end-users through a network of direct and independent sales representatives, and distributors. The company was formerly known as Regal Beloit Corporation. The company was founded in 1955 and is headquartered in Beloit, Wisconsin.
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