Analysts Set Regal Rexnord Co. (NYSE:RRX) Target Price at $205.13

Shares of Regal Rexnord Co. (NYSE:RRX) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $205.13.

Several research firms have commented on RRX. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Barclays upped their target price on Regal Rexnord from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Several institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in shares of Regal Rexnord by 42.7% in the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after buying an additional 563,853 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Regal Rexnord in the third quarter worth about $83,460,000. Westfield Capital Management Co. LP lifted its position in shares of Regal Rexnord by 68.9% during the third quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after purchasing an additional 399,649 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Regal Rexnord by 24.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after purchasing an additional 222,775 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Regal Rexnord by 7.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock valued at $430,255,000 after purchasing an additional 209,776 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Up 3.5 %

Shares of RRX stock opened at $158.68 on Wednesday. The stock has a 50 day moving average of $167.72 and a 200-day moving average of $160.24. The firm has a market cap of $10.51 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the business posted $2.10 EPS. On average, equities analysts predict that Regal Rexnord will post 9.24 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.88%. Regal Rexnord’s dividend payout ratio is 44.16%.

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.