Regal Rexnord Corporation (NYSE:RRX) Receives $232.25 Average Price Target from Brokerages

Regal Rexnord Corporation (NYSE:RRX) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $237.80.

RRX has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. Citigroup boosted their target price on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, April 13th. UBS Group set a $260.00 price target on Regal Rexnord in a report on Monday. DA Davidson started coverage on Regal Rexnord in a research note on Tuesday. They set a “buy” rating and a $260.00 price target for the company. Finally, Barclays boosted their price objective on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, March 23rd.

Insider Buying and Selling

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total value of $277,363.45. Following the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. This represents a 19.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at approximately $12,012,628.32. This trade represents a 28.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,305 shares of company stock valued at $6,341,869 in the last 90 days. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in Regal Rexnord by 42.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock valued at $793,983,000 after purchasing an additional 1,690,264 shares during the period. Viking Global Investors LP increased its holdings in Regal Rexnord by 25.7% during the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock valued at $497,231,000 after buying an additional 701,145 shares during the period. Dimensional Fund Advisors LP increased its holdings in Regal Rexnord by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,530,092 shares of the company’s stock valued at $355,031,000 after buying an additional 131,171 shares during the period. Invesco Ltd. raised its stake in Regal Rexnord by 27.1% in the fourth quarter. Invesco Ltd. now owns 1,905,828 shares of the company’s stock worth $267,426,000 after buying an additional 405,828 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Regal Rexnord by 115.5% during the first quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock worth $343,859,000 after buying an additional 984,185 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $221.95 on Wednesday. The company has a market cap of $14.78 billion, a P/E ratio of 51.62, a P/E/G ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. The business’s 50 day moving average price is $206.76 and its 200-day moving average price is $185.73. Regal Rexnord has a fifty-two week low of $127.96 and a fifty-two week high of $236.35.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $2.15 earnings per share. Regal Rexnord’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Regal Rexnord will post 10.63 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio is presently 32.56%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.