Brokerages Set Regal Rexnord Corporation (NYSE:RRX) Target Price at $180.38

Shares of Regal Rexnord Corporation (NYSE:RRX) have been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $180.3750.

A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. KeyCorp decreased their price objective on shares of Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a report on Monday, September 15th. They set an “overweight” rating and a $200.00 price objective on the stock. Finally, Barclays decreased their price objective on shares of Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating on the stock in a report on Tuesday, September 16th.

Regal Rexnord Trading Down 3.6%

Shares of Regal Rexnord stock opened at $145.16 on Tuesday. The stock has a market capitalization of $9.63 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $145.08 and a 200 day simple moving average of $139.88. Regal Rexnord has a 12-month low of $90.56 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. The firm had revenue of $1.85 billion for the quarter. Research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 37.23%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its stake in shares of Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Regal Rexnord in the 3rd quarter valued at about $28,000. SJS Investment Consulting Inc. boosted its stake in shares of Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company’s stock valued at $29,000 after purchasing an additional 97 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Regal Rexnord by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

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.