Regal Rexnord Co. (NYSE:RRX) Receives $193.00 Average PT from Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $193.00.

RRX has been the topic of several research reports. Citigroup started coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target on the stock. Loop Capital reaffirmed a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. Robert W. Baird decreased their price objective on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Barclays lifted their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd.

Insider Buying and Selling

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

Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in Regal Rexnord in the 2nd quarter valued at $46,000. UMB Bank n.a. grew its holdings in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. EntryPoint Capital LLC acquired a new stake in Regal Rexnord during the first quarter worth about $68,000. 1620 Investment Advisors Inc. acquired a new stake in Regal Rexnord during the second quarter worth about $52,000. Finally, GAMMA Investing LLC raised its stake in Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after purchasing an additional 79 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 0.2 %

Shares of Regal Rexnord stock opened at $172.49 on Tuesday. Regal Rexnord has a 12-month low of $113.79 and a 12-month high of $185.28. The firm’s 50 day simple moving average is $166.89 and its two-hundred day simple moving average is $156.73. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 54.14, a PEG ratio of 1.85 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. Analysts predict that Regal Rexnord will post 9.2 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently 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.