Regal Rexnord Co. (NYSE:RRX) Short Interest Update

Regal Rexnord Co. (NYSE:RRX) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,460,000 shares, a growth of 15.9% from the February 13th total of 1,260,000 shares. Based on an average daily volume of 564,900 shares, the short-interest ratio is currently 2.6 days. Approximately 2.2% of the company’s stock are short sold.

Regal Rexnord Stock Up 0.3 %

RRX stock opened at $123.71 on Friday. The firm has a 50 day moving average of $140.01 and a 200 day moving average of $156.90. The stock has a market capitalization of $8.20 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 52 week low of $113.73 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Sell-side analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Institutional Trading of Regal Rexnord

Several institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its stake in Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after acquiring an additional 61 shares during the period. iA Global Asset Management Inc. lifted its stake in Regal Rexnord by 2.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after acquiring an additional 68 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Regal Rexnord by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock valued at $190,000 after acquiring an additional 77 shares during the period. Moors & Cabot Inc. lifted its stake in Regal Rexnord by 4.1% during the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock valued at $332,000 after acquiring an additional 85 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock valued at $370,000 after acquiring an additional 87 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on RRX. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Oppenheimer cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup lowered their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.75.

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.