Analysts Set Regal Rexnord Co. (NYSE:RRX) PT at $205.13

Regal Rexnord Co. (NYSE:RRX) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $205.13.

A number of equities research analysts have recently issued reports on RRX shares. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Robert W. Baird lowered their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $158.68 on Wednesday. The company has a market capitalization of $10.51 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The stock has a fifty day moving average of $167.72 and a 200-day moving average of $160.24. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. Regal Rexnord’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 earnings per share. As a group, equities analysts anticipate that Regal Rexnord will post 9.24 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is 44.16%.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction on 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 of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Institutional Trading of Regal Rexnord

Several large investors have recently made changes to their positions in RRX. Headlands Technologies LLC acquired a new stake in Regal Rexnord in the 2nd quarter worth approximately $46,000. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 buying an additional 100 shares during the period. 1620 Investment Advisors Inc. grew its stake in Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares during the last quarter. Finally, Quarry LP raised its holdings in Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after acquiring an additional 768 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.