Regal Rexnord (NYSE:RRX) Given New $190.00 Price Target at Citigroup

Regal Rexnord (NYSE:RRX) had its price objective decreased by Citigroup from $210.00 to $190.00 in a research note published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently weighed in on RRX. StockNews.com raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 8th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Loop Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, Robert W. Baird reduced their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $202.00.

Regal Rexnord Stock Up 2.5 %

Shares of Regal Rexnord stock opened at $155.59 on Tuesday. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The company has a market capitalization of $10.30 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The business has a 50-day moving average of $165.69 and a two-hundred day moving average of $161.15.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is 44.16%.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Regal Rexnord by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after purchasing an additional 28,278 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after buying an additional 9,338 shares during the period. PNC Financial Services Group Inc. increased its stake in Regal Rexnord by 29.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,783 shares during the period. First Hawaiian Bank bought a new stake in shares of Regal Rexnord during the 4th quarter valued at $811,000. Finally, Franklin Resources Inc. grew its holdings in shares of Regal Rexnord by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. 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.