Regal Rexnord (NYSE:RRX) Price Target Raised to $255.00 at KeyCorp

Regal Rexnord (NYSE:RRX) had its target price increased by KeyCorp from $200.00 to $255.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on RRX. Zacks Research raised shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Robert W. Baird set a $253.00 target price on Regal Rexnord in a research note on Friday. Barclays increased their price target on Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research report on Monday. Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and cut their price target for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $227.50.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $222.33 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $223.38. The business has a 50 day simple moving average of $156.29 and a 200-day simple moving average of $148.23.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Regal Rexnord will post 9.95 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, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 33.33%.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 35,935 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total value of $5,253,697.00. Following the completion of the sale, the chief executive officer directly owned 103,262 shares in the company, valued at $15,096,904.40. This represents a 25.82% 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, Director Curtis W. Stoelting sold 4,500 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the transaction, the director directly owned 15,617 shares of the company’s stock, valued at approximately $2,811,060. The trade was a 22.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Regal Rexnord

Several institutional investors have recently modified their holdings of the company. Covestor Ltd grew its holdings in Regal Rexnord by 81.6% during the fourth quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares during the period. Geneos Wealth Management Inc. lifted its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord during the third quarter valued at approximately $27,000. Garner Asset Management Corp bought a new stake in Regal Rexnord during the fourth quarter worth approximately $27,000. Finally, IFP Advisors Inc grew its position 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 during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

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.