Analysts Set Regal Rexnord Co. (NYSE:RRX) Target Price at $194.88

Shares of Regal Rexnord Co. (NYSE:RRX) have received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $194.88.

Several analysts have commented on RRX shares. Citigroup started coverage on Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. Loop Capital restated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays lifted their price target on Regal Rexnord from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Robert W. Baird decreased their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th.

Regal Rexnord Stock Performance

NYSE:RRX opened at $170.45 on Friday. The company has a market capitalization of $11.29 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. The stock has a fifty day simple moving average of $171.42 and a 200-day simple moving average of $158.18. Regal Rexnord has a 52-week low of $124.50 and a 52-week high of $185.28. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

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

Regal Rexnord Announces Dividend

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

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors have recently made changes to their positions in RRX. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at approximately $46,000. UMB Bank n.a. raised its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after acquiring an additional 145 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Regal Rexnord during the 2nd quarter valued at approximately $52,000. Nomura Asset Management Co. Ltd. raised its position in shares of Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after acquiring an additional 100 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after acquiring an additional 79 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

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.