Analysts Set Regal Rexnord Co. (NYSE:RRX) Price Target at $193.00

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $193.00.

Several equities research analysts have weighed in on RRX shares. Robert W. Baird decreased their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup initiated coverage on Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays raised their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Loop Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th.

Regal Rexnord Trading Down 1.6 %

NYSE RRX opened at $169.73 on Tuesday. The stock has a market capitalization of $11.24 billion, a P/E ratio of 53.54, a P/E/G ratio of 1.86 and a beta of 1.04. The business has a 50 day simple moving average of $167.71 and a 200 day simple moving average of $156.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord has a one year low of $113.79 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion for 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 company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS. Research analysts expect that Regal Rexnord will post 9.25 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend 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 Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Regal Rexnord in the second quarter valued at approximately $46,000. 1620 Investment Advisors Inc. purchased a new position in Regal Rexnord in the second quarter worth $52,000. UMB Bank n.a. grew its stake in Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. EntryPoint Capital LLC bought a new position in Regal Rexnord in the 1st quarter valued at $68,000. Finally, Nomura Asset Management Co. Ltd. raised its stake 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 worth $71,000 after purchasing an additional 100 shares during the period. Institutional investors own 99.72% of the company’s stock.

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.