Brokerages Set Regal Rexnord Corporation (NYSE:RRX) PT at $237.80

Shares of Regal Rexnord Corporation (NYSE:RRX) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $241.6364.

Several equities analysts have weighed in on the company. Wall Street Zen raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. raised their price target on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Citigroup boosted their price objective on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, April 13th. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a research note on Monday, June 15th. Finally, Wolfe Research set a $250.00 target price on shares of Regal Rexnord in a research report on Thursday.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the sale, the director owned 5,503 shares of the company’s stock, valued at approximately $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Rehard sold 6,499 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the transaction, the chief financial officer directly owned 27,965 shares in the company, valued at approximately $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,305 shares of company stock worth $6,341,869. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc raised its holdings in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares during the period. Parallel Advisors LLC grew its holdings in Regal Rexnord by 5.6% during the first quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock worth $176,000 after purchasing an additional 50 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Regal Rexnord by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after buying an additional 60 shares during the last quarter. UMB Bank n.a. increased its position in Regal Rexnord by 6.2% during the fourth quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after buying an additional 60 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in Regal Rexnord by 3.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after buying an additional 65 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Trading Up 3.4%

Regal Rexnord stock traded up $7.00 during midday trading on Friday, reaching $215.06. The stock had a trading volume of 1,209,858 shares, compared to its average volume of 1,099,260. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 2.02 and a beta of 1.08. The firm’s fifty day simple moving average is $212.48 and its two-hundred day simple moving average is $194.96. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. Regal Rexnord has a twelve month low of $127.96 and a twelve month high of $247.80.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.Regal Rexnord’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 earnings per share. Equities analysts anticipate that Regal Rexnord will post 10.64 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio is 32.56%.

About Regal Rexnord

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.