Regal Rexnord (NYSE:RRX) Given New $255.00 Price Target at KeyCorp

Regal Rexnord (NYSE:RRX) had its target price increased by stock analysts at KeyCorp from $200.00 to $255.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 18.32% from the stock’s current price.

Several other research firms have also recently issued reports on RRX. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Thursday, January 22nd. Oppenheimer increased their price objective on Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Monday. Finally, Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and decreased their price target for the stock from $170.00 to $160.00 in a research note on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.50.

Regal Rexnord Stock Up 1.8%

Regal Rexnord stock opened at $215.53 on Tuesday. 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 stock has a market capitalization of $14.31 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The business has a 50 day simple moving average of $154.72 and a 200-day simple moving average of $147.77. Regal Rexnord has a 12 month low of $90.56 and a 12 month high of $218.58.

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

Insider Transactions at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 35,935 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at approximately $15,096,904.40. The trade was a 25.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Curtis W. Stoelting sold 4,500 shares of the company’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 value of $810,000.00. Following the completion of the transaction, the director owned 15,617 shares in the company, valued at $2,811,060. This represents a 22.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Granite Investment Partners LLC purchased a new position in Regal Rexnord in the 2nd quarter valued at approximately $1,309,000. Nordea Investment Management AB boosted its holdings in Regal Rexnord by 30.7% in the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock valued at $289,083,000 after purchasing an additional 476,802 shares during the period. Prudential Financial Inc. grew its stake in Regal Rexnord by 233.6% during the 2nd quarter. Prudential Financial Inc. now owns 45,281 shares of the company’s stock worth $6,564,000 after purchasing an additional 31,709 shares in the last quarter. Stanley Capital Management LLC purchased a new stake in Regal Rexnord during the 2nd quarter worth about $19,367,000. Finally, Legal & General Group Plc raised its position in Regal Rexnord by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 112,789 shares of the company’s stock valued at $16,350,000 after purchasing an additional 3,096 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

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.