Analysts Set Regal Rexnord Co. (NYSE:RRX) Price Target at $195.60

Shares of Regal Rexnord Co. (NYSE:RRX) have earned an average rating of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $195.60.

Several analysts have recently weighed in on RRX shares. Barclays dropped their price target on shares of Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Oppenheimer increased their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. KeyCorp boosted their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird raised their price target on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th.

Regal Rexnord Stock Performance

RRX opened at $149.72 on Tuesday. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The firm has a market capitalization of $9.96 billion, a PE ratio of -311.92, a PEG ratio of 1.60 and a beta of 1.16. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $167.40 and its 200 day moving average price is $149.90.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 earnings per share. As a group, sell-side analysts expect that Regal Rexnord will post 9.88 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.94%. Regal Rexnord’s payout ratio is -291.67%.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were 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 in the company, valued at approximately $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC grew its position in shares of Regal Rexnord by 652.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Regal Rexnord in the 1st quarter valued at about $33,000. GAMMA Investing LLC purchased a new position in Regal Rexnord during the 4th quarter worth approximately $58,000. EntryPoint Capital LLC purchased a new stake in Regal Rexnord in the first quarter valued at approximately $68,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Regal Rexnord in the fourth quarter valued at approximately $70,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.