Regal Rexnord Co. (NYSE:RRX) Receives $195.75 Consensus Target Price from Brokerages

Regal Rexnord Co. (NYSE:RRX) has been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $195.75.

Several brokerages have issued reports on RRX. Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Barclays lowered their target price on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently made changes to their positions in RRX. JPMorgan Chase & Co. grew its position in Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after buying an additional 28,278 shares in the last quarter. Geode Capital Management LLC grew its position in Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after buying an additional 9,338 shares in the last quarter. First Hawaiian Bank purchased a new position in Regal Rexnord during the fourth quarter worth about $811,000. PNC Financial Services Group Inc. grew its position in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after buying an additional 2,783 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $123.50 on Monday. The business’s fifty day simple moving average is $140.64 and its 200 day simple moving average is $157.13. The firm has a market capitalization of $8.18 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 12 month low of $113.73 and a 12 month high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, analysts anticipate that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

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.