Regal Rexnord (NYSE:RRX) Price Target Raised to $205.00

Regal Rexnord (NYSE:RRX) had its price objective boosted by Barclays from $190.00 to $205.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also commented on RRX. Loop Capital reiterated a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. Citigroup began coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective on the stock. Robert W. Baird reduced their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.88.

Regal Rexnord Stock Up 0.9 %

Shares of RRX opened at $170.45 on Thursday. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 1.87 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The business’s fifty day moving average price is $171.33 and its two-hundred day moving average price is $158.04. Regal Rexnord has a 52 week low of $122.49 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $2.10 EPS. On average, analysts predict that Regal Rexnord will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 44.16%.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

Several institutional investors have recently made changes to their positions in the company. American Trust lifted its holdings in Regal Rexnord by 11.5% during the 3rd quarter. American Trust now owns 1,797 shares of the company’s stock valued at $298,000 after buying an additional 185 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares during the last quarter. Tidal Investments LLC grew its position in shares of Regal Rexnord by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 7,605 shares of the company’s stock worth $1,262,000 after buying an additional 347 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Regal Rexnord by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock worth $404,000 after purchasing an additional 123 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 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.