Regal Rexnord (NYSE:RRX) Price Target Raised to $203.00

Regal Rexnord (NYSE:RRX) had its price objective hoisted by Barclays from $200.00 to $203.00 in a research report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on RRX. Oppenheimer raised their price target 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 upgraded Regal Rexnord from a peer perform rating to an outperform rating and set a $151.00 price target for the company in a research note on Monday, December 11th. Finally, KeyCorp raised their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an overweight rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $197.00.

Regal Rexnord Stock Down 0.8 %

NYSE:RRX opened at $172.66 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The company has a market cap of $11.47 billion, a PE ratio of -198.46, a PEG ratio of 1.74 and a beta of 1.14. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The stock has a 50-day simple moving average of $163.55 and a 200 day simple moving average of $142.46.

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

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.81%. Regal Rexnord’s payout ratio is -160.92%.

Insider Activity

In other news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord 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 sale, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock valued at $892,301 over the last three months. Insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Regal Rexnord by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company’s stock worth $50,649,000 after purchasing an additional 42,110 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Regal Rexnord by 7.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock valued at $548,000 after acquiring an additional 253 shares in the last quarter. UBS Group AG raised its holdings in Regal Rexnord by 58.8% in the 3rd quarter. UBS Group AG now owns 90,990 shares of the company’s stock valued at $13,001,000 after acquiring an additional 33,689 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Regal Rexnord in the 3rd quarter valued at $491,000. Finally, Comerica Bank acquired a new position in Regal Rexnord in the 2nd quarter valued at $4,474,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Company Profile

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.