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

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

RRX has been the subject of a number of research analyst reports. Citigroup began coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. Barclays raised their price objective on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Loop Capital reiterated a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the sale, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. Victory Capital Management Inc. increased its stake in Regal Rexnord by 42.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after buying an additional 563,853 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Regal Rexnord during the third quarter worth approximately $83,460,000. Westfield Capital Management Co. LP raised its stake in Regal Rexnord by 68.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock valued at $162,483,000 after purchasing an additional 399,649 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Regal Rexnord by 24.7% in the 2nd 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in Regal Rexnord by 7.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after purchasing an additional 209,776 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

RRX opened at $158.68 on Wednesday. The company has a market cap of $10.51 billion, a P/E 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. The firm’s 50-day moving average price is $167.72 and its 200-day moving average price is $160.11. Regal Rexnord has a 52-week low of $130.94 and a 52-week high of $185.28.

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

Regal Rexnord Dividend Announcement

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

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.