KeyCorp Boosts Regal Rexnord (NYSE:RRX) Price Target to $210.00

Regal Rexnord (NYSE:RRX) had its price target hoisted by KeyCorp from $180.00 to $210.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on RRX. Oppenheimer lifted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. Wolfe Research raised Regal Rexnord from a peer perform rating to an outperform rating and set a $151.00 price objective on the stock in a research note on Monday, December 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $195.50.

Regal Rexnord Stock Down 0.7 %

RRX opened at $178.19 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of -204.81, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14. The business has a 50-day moving average of $159.01 and a two-hundred day moving average of $141.37. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.02. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The company’s revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.64 EPS. On average, research analysts expect that Regal Rexnord will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Wednesday, March 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Regal Rexnord

Institutional investors have recently made changes to their positions in the business. US Bancorp DE bought a new stake in shares of Regal Rexnord in the 1st quarter valued at approximately $702,000. Citigroup Inc. bought a new stake in shares of Regal Rexnord in the 1st quarter valued at approximately $3,124,000. AlphaCrest Capital Management LLC bought a new position in Regal Rexnord during the 1st quarter worth $347,000. Great West Life Assurance Co. Can bought a new position in Regal Rexnord during the 1st quarter worth $5,758,000. Finally, Synovus Financial Corp bought a new position in Regal Rexnord during the 1st quarter worth $1,608,000. 99.72% of the stock is owned by institutional investors and hedge funds.

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.