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

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment 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 brokerages that have issued a report on the stock in the last year is $205.13.

A number of analysts recently issued reports on RRX shares. Barclays raised their target price on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 target price for the company. The Goldman Sachs Group raised their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Robert W. Baird dropped their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, Loop Capital reissued a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th.

Regal Rexnord Price Performance

Shares of NYSE RRX traded up $1.57 during trading on Wednesday, reaching $155.13. The company had a trading volume of 354,476 shares, compared to its average volume of 453,711. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The stock has a 50-day moving average price of $168.17 and a two-hundred day moving average price of $160.03. The stock has a market capitalization of $10.27 billion, a PE ratio of 48.94, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm's revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 EPS. As a group, sell-side analysts predict that Regal Rexnord will post 9.24 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.90%. Regal Rexnord's payout ratio is 44.16%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 149,618 shares of the company's stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by insiders.

Institutional Trading of Regal Rexnord

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 28,278 shares in the last quarter. American Trust lifted its position in Regal Rexnord by 11.5% during the 3rd quarter. American Trust now owns 1,797 shares of the company's stock worth $298,000 after acquiring an additional 185 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after acquiring an additional 77,215 shares during the period. Tidal Investments LLC grew its position in Regal Rexnord by 4.8% in the third quarter. Tidal Investments LLC now owns 7,605 shares of the company's stock valued at $1,262,000 after acquiring an additional 347 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Regal Rexnord by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company's stock worth $404,000 after purchasing an additional 123 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.