Regal Rexnord Corporation (NYSE:RRX) Receives $228.50 Consensus Target Price from Analysts

Regal Rexnord Corporation (NYSE:RRX) has earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $228.50.

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Regal Rexnord from $180.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 9th. Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Barclays upped their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. raised their price objective on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Wednesday, December 10th.

Regal Rexnord Stock Down 0.0%

RRX opened at $183.35 on Friday. Regal Rexnord has a one year low of $90.56 and a one year high of $229.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 2.15. The stock has a market capitalization of $12.21 billion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The business’s 50-day simple moving average is $193.26 and its 200-day simple moving average is $161.20.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. 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 Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s payout ratio is 33.33%.

Insider Buying and Selling

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $180.00, for a total transaction of $810,000.00. Following the completion of the sale, the director directly owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. This trade represents a 22.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the transaction, the executive vice president owned 13,219 shares in the company, valued at $2,851,734.87. This trade represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,451 shares of company stock valued at $11,386,689 in the last quarter. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. Covestor Ltd increased its stake in Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock valued at $25,000 after buying an additional 80 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 127 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Regal Rexnord in the third quarter valued at about $27,000. Garner Asset Management Corp purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at about $27,000. Finally, IFP Advisors Inc increased its stake in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock worth $27,000 after acquiring an additional 49 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

About Regal Rexnord

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.