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

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

Regal Rexnord Trading Up 0.3 %

Shares of RRX opened at $123.71 on Friday. Regal Rexnord has a 52-week low of $113.73 and a 52-week high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average is $140.01 and its two-hundred day moving average is $156.90. The stock has a market cap 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.

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

Regal Rexnord Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Regal Rexnord during the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the 4th quarter valued at about $33,000. Tobam acquired a new position in shares of Regal Rexnord during the 4th quarter valued at about $45,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RRX shares. Barclays cut their target price on shares of Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Citigroup cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Oppenheimer cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.