Regal Rexnord Corporation (NYSE:RRX) Stock Has Average Price Target of $231.33 According to Brokerages

Shares of Regal Rexnord Corporation (NYSE:RRX) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $231.25.

Several equities analysts have recently commented on RRX shares. Wall Street Zen cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Deutsche Bank initiated coverage on shares of Regal Rexnord in a research report on Monday, July 20th. They set a “buy” rating and a $286.00 price target on the stock. Citigroup lifted their price objective on shares of Regal Rexnord from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Weiss Ratings downgraded shares of Regal Rexnord from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Regal Rexnord from $196.00 to $195.00 and set an “overweight” rating for the company in a research report on Wednesday.

Regal Rexnord Stock Performance

RRX opened at $183.15 on Friday. The firm has a market cap of $12.20 billion, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09. Regal Rexnord has a 52-week low of $127.96 and a 52-week high of $247.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.15 and a current ratio of 2.21. The business’s fifty day moving average is $159.67 and its 200-day moving average is $189.92.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.25. Regal Rexnord had a return on equity of 10.28% and a net margin of 3.77%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. Regal Rexnord’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Regal Rexnord will post 10.76 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Thursday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Regal Rexnord’s dividend payout ratio (DPR) is presently 40.46%.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Regal Rexnord in the second quarter valued at about $1,477,356,000. Wellington Management Group LLP lifted its holdings in shares of Regal Rexnord by 75.8% in the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company’s stock worth $615,496,000 after acquiring an additional 1,113,888 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $449,281,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Regal Rexnord in the 2nd quarter valued at approximately $254,637,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Regal Rexnord during the 2nd quarter valued at approximately $212,260,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Company Profile

Regal Rexnord Corporation designs, manufactures and sells products and systems that transmit power, control motion and move materials. Its offerings include electric motors, gear drives, bearings, couplings, clutches, brakes, conveyor components and automation technologies. The company serves customers in a range of industries, including industrial manufacturing, food and beverage, energy, commercial buildings and residential applications. Its products are used in equipment and systems such as factory machinery, conveyors, HVAC systems and material-handling operations.