Analysts Set Regal Rexnord Corporation (NYSE:RRX) PT at $237.80

Shares of Regal Rexnord Corporation (NYSE:RRX) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $238.9091.

Several analysts have weighed in on RRX shares. Barclays raised their price target on Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. JPMorgan Chase & Co. boosted their price objective on Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Citigroup raised their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Wall Street Zen upgraded shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the sale, the director owned 5,503 shares in the company, valued at $1,176,816.55. This trade represents a 19.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the sale, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This trade represents a 18.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 30,305 shares of company stock valued at $6,341,869. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently modified their holdings of RRX. IFP Advisors Inc boosted its stake in Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Regal Rexnord by 5.6% during the first quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock worth $176,000 after acquiring an additional 50 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Regal Rexnord by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after acquiring an additional 60 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Regal Rexnord by 6.2% in the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $144,000 after acquiring an additional 60 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Regal Rexnord by 3.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after purchasing an additional 65 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 0.2%

Regal Rexnord stock opened at $207.96 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.08 and a current ratio of 2.17. Regal Rexnord has a fifty-two week low of $127.96 and a fifty-two week high of $247.80. The stock has a market cap of $13.84 billion, a P/E ratio of 48.36, a PEG ratio of 1.96 and a beta of 1.08. The firm’s fifty day moving average price is $212.26 and its 200-day moving average price is $194.82.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.43 billion. During the same quarter last year, the company earned $2.15 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that Regal Rexnord will post 10.64 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is 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.