Regal Rexnord (NYSE:RRX) Price Target Raised to $160.00 at Barclays

Regal Rexnord (NYSE:RRX) had its price target raised by Barclays from $155.00 to $160.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently issued reports on RRX. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Citigroup boosted their price objective on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Robert W. Baird boosted their price objective on shares of Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, KeyCorp lowered their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $171.25.

Regal Rexnord Trading Down 1.9%

Shares of RRX opened at $141.53 on Monday. The stock has a fifty day moving average of $113.12 and a two-hundred day moving average of $142.05. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market capitalization of $9.39 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord has a fifty-two week low of $90.56 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Regal Rexnord’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 EPS. As a group, analysts forecast that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. Regal Rexnord’s dividend payout ratio (DPR) is 39.89%.

Institutional Trading of Regal Rexnord

Institutional investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ boosted its position in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. purchased a new stake in Regal Rexnord during the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new stake in Regal Rexnord during the 4th quarter worth $33,000. Golden State Wealth Management LLC lifted its holdings in Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock worth $31,000 after buying an additional 138 shares in the last quarter. Finally, Tobam acquired a new position in Regal Rexnord in the 4th quarter worth $45,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

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.