Regal Rexnord Co. (NYSE:RRX) Receives $205.13 Average Price Target from Analysts

Regal Rexnord Co. (NYSE:RRX) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $205.13.

Several research firms recently weighed in on RRX. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price for the company. Finally, Barclays boosted their price target on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares during the period. Geode Capital Management LLC lifted its position in shares of Regal Rexnord by 0.9% during the third 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock valued at $2,042,000 after purchasing an additional 2,783 shares during the period. Franklin Resources Inc. increased its stake in Regal Rexnord by 7.2% during 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 period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Regal Rexnord by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company’s stock worth $71,623,000 after buying an additional 4,752 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Trading Down 1.8 %

RRX stock opened at $156.11 on Wednesday. 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 has a 52-week low of $130.94 and a 52-week high of $185.28. The company’s 50-day simple moving average is $167.21 and its 200-day simple moving average is $160.59. The firm has a market cap of $10.34 billion, a P/E ratio of 49.25, a PEG ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 EPS. As a group, equities analysts forecast that Regal Rexnord will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.90%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

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.