Regal Rexnord (NYSE:RRX) Sets New 12-Month High on Analyst Upgrade

Regal Rexnord Corporation (NYSE:RRX)’s stock price hit a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $170.00 to $230.00. The Goldman Sachs Group currently has a buy rating on the stock. Regal Rexnord traded as high as $214.39 and last traded at $210.6740, with a volume of 25929 shares changing hands. The stock had previously closed at $200.00.

A number of other analysts also recently weighed in on RRX. Barclays increased their price target on shares of Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating and dropped their price target for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. Oppenheimer increased their price objective on Regal Rexnord from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.63.

Insider Transactions at Regal Rexnord

In other Regal Rexnord news, Director Curtis W. Stoelting sold 4,500 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total transaction of $810,000.00. Following the sale, the director owned 15,617 shares of the company’s stock, valued at $2,811,060. This represents a 22.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Louis V. Pinkham sold 35,935 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the sale, the chief executive officer owned 103,262 shares of the company’s stock, valued at $15,096,904.40. The trade was a 25.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently made changes to their positions in RRX. IFP Advisors Inc lifted 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 valued at $27,000 after acquiring an additional 49 shares during the period. Northwestern Mutual Investment Management Company LLC raised its holdings in Regal Rexnord by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after purchasing an additional 60 shares during the last quarter. Allworth Financial LP lifted its position in Regal Rexnord by 35.9% during the 3rd quarter. Allworth Financial LP now owns 265 shares of the company’s stock valued at $38,000 after purchasing an additional 70 shares during the period. CWM LLC boosted its stake in shares of Regal Rexnord by 7.2% in the 4th quarter. CWM LLC now owns 1,075 shares of the company’s stock valued at $151,000 after purchasing an additional 72 shares during the last quarter. Finally, 1620 Investment Advisors Inc. grew its position in shares of Regal Rexnord by 8.6% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock worth $135,000 after buying an additional 75 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

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 company has a market cap of $14.38 billion, a price-to-earnings ratio of 51.56, a PEG ratio of 1.97 and a beta of 1.13. The firm’s 50-day moving average price is $154.72 and its 200 day moving average price is $147.77.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.34 earnings per share. On average, sell-side analysts anticipate that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.6%. Regal Rexnord’s payout ratio is currently 33.33%.

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.