Regal Rexnord (NYSE:RRX) Price Target Raised to $245.00

Regal Rexnord (NYSE:RRX) had its target price raised by Barclays from $237.00 to $245.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and dropped their target price for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Robert W. Baird set a $253.00 price target on shares of Regal Rexnord in a report on Friday, February 6th. Finally, Citigroup lifted their price objective on shares of Regal Rexnord from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

Regal Rexnord Stock Up 2.8%

Shares of RRX stock opened at $194.84 on Monday. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $229.30. The stock’s fifty day moving average price is $192.22 and its 200 day moving average price is $160.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. On average, research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. Regal Rexnord’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total transaction of $810,000.00. Following the completion of the transaction, the director directly owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Louis V. Pinkham sold 36,728 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the sale, the chief executive officer owned 83,337 shares of the company’s stock, valued at approximately $17,960,790.24. The trade was a 30.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,451 shares of company stock worth $11,386,689 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently made changes to their positions in RRX. AQR Capital Management LLC lifted its position in Regal Rexnord by 208.1% during the first quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after purchasing an additional 11,987 shares during the period. Jones Financial Companies Lllp grew its position in Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. grew its position in Regal Rexnord by 135.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Allworth Financial LP raised its stake in shares of Regal Rexnord by 85.7% during the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Regal Rexnord by 6.7% during the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock valued at $452,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds 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.