Regal Rexnord (NYSE:RRX) Sets New 12-Month High – What’s Next?

Regal Rexnord Corporation (NYSE:RRX) shares hit a new 52-week high on Monday . The company traded as high as $164.11 and last traded at $164.11, with a volume of 82953 shares changing hands. The stock had previously closed at $161.50.

Analysts Set New Price Targets

RRX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Regal Rexnord from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Citigroup upped their price target on shares of Regal Rexnord from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Zacks Research upgraded Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Barclays restated an “overweight” rating and issued a $165.00 target price on shares of Regal Rexnord in a research note on Monday, November 3rd. Finally, Robert W. Baird set a $212.00 price target on Regal Rexnord in a research note on Friday, October 31st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.25.

Regal Rexnord Price Performance

The stock has a 50 day moving average of $149.17 and a two-hundred day moving average of $146.09. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 2.05. The firm has a market capitalization of $11.15 billion, a P/E ratio of 43.29, a P/E/G ratio of 1.50 and a beta of 1.13.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Regal Rexnord’s payout ratio is currently 36.18%.

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the sale, the chief executive officer directly owned 103,262 shares of the company’s stock, valued at approximately $15,096,904.40. This trade represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds have recently made changes to their positions in RRX. Victory Capital Management Inc. raised its holdings in Regal Rexnord by 138.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,968,101 shares of the company’s stock valued at $566,981,000 after acquiring an additional 2,303,373 shares in the last quarter. Viking Global Investors LP increased its position in shares of Regal Rexnord by 25.7% during the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after purchasing an additional 701,145 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Regal Rexnord by 14.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,398,921 shares of the company’s stock valued at $344,103,000 after purchasing an additional 303,378 shares in the last quarter. Nordea Investment Management AB lifted its position in Regal Rexnord by 30.7% in the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock worth $289,083,000 after purchasing an additional 476,802 shares during the period. Finally, Norges Bank acquired a new stake in Regal Rexnord during the second quarter worth $256,155,000. Institutional investors own 99.72% of the company’s stock.

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.