Regal Rexnord Co. (NYSE:RRX) Receives $197.00 Consensus Price Target from Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have been given an average recommendation of “Buy” by the five research firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $197.00.

A number of analysts recently issued reports on RRX shares. Barclays lifted their target price on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp upped their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Finally, Oppenheimer raised their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th.

Insider Buying and Selling

In other news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Regal Rexnord by 80.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock valued at $75,382,000 after purchasing an additional 226,435 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Regal Rexnord by 56.8% during the 4th quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after acquiring an additional 52,214 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Regal Rexnord by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock worth $50,649,000 after acquiring an additional 42,110 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Regal Rexnord by 7.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock valued at $548,000 after acquiring an additional 253 shares during the last quarter. Finally, UBS Group AG raised its position in Regal Rexnord by 58.8% during the third quarter. UBS Group AG now owns 90,990 shares of the company’s stock valued at $13,001,000 after purchasing an additional 33,689 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Stock Down 2.9 %

RRX stock opened at $161.37 on Friday. The business has a 50-day moving average of $170.08 and a 200-day moving average of $145.36. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The stock has a market capitalization of $10.73 billion, a P/E ratio of -185.48, a P/E/G ratio of 1.63 and a beta of 1.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period last year, the business earned $2.64 EPS. On average, sell-side analysts anticipate that Regal Rexnord will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. Regal Rexnord’s dividend payout ratio is currently -160.92%.

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.