Brokerages Set Regal Rexnord Corporation (NYSE:RRX) PT at $179.63

Shares of Regal Rexnord Corporation (NYSE:RRX) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $179.6250.

Several research analysts have weighed in on the stock. Wall Street Zen cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. KeyCorp reduced their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Barclays reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Regal Rexnord in a report on Monday, November 3rd. Robert W. Baird set a $212.00 target price on Regal Rexnord in a report on Friday, October 31st. Finally, Citigroup upped their price target on shares of Regal Rexnord from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 11th.

Insider Activity

In related news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. This represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Several large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the 3rd quarter valued at approximately $27,000. Allworth Financial LP lifted its holdings in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Regal Rexnord during the 3rd quarter worth approximately $28,000. Finally, SJS Investment Consulting Inc. increased its stake in Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after acquiring an additional 97 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Down 0.7%

RRX opened at $140.00 on Wednesday. The stock’s fifty day simple moving average is $141.84 and its 200 day simple moving average is $144.56. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $167.77. The stock has a market cap of $9.29 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company has a current ratio of 2.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Friday, September 8th. The company reported $2.76 EPS for the quarter. The firm had revenue of $1.85 billion for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.64%. As a group, research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Regal Rexnord’s payout ratio is presently 36.18%.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.