Regal Rexnord (NYSE:RRX) Given New $245.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its target price hoisted by Barclays from $237.00 to $245.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. KeyCorp boosted their target price on shares of Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Jefferies Financial Group downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating and lowered their price target for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Oppenheimer boosted their price objective on shares of Regal Rexnord from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $170.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $228.50.

Regal Rexnord Trading Up 5.1%

Shares of RRX opened at $184.29 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $190.72 and a 200-day simple moving average of $159.92. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $229.30. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 43.88, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05.

Regal Rexnord (NYSE:RRX) last posted 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 for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.Regal Rexnord’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. Equities analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a yield of 0.8%. Regal Rexnord’s payout ratio is 33.33%.

Insider Activity at Regal Rexnord

In related news, EVP Cheryl Lewis sold 2,262 shares of the business’s 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 sale, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Louis V. Pinkham sold 36,728 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $215.52, for a total transaction of $7,915,618.56. Following the transaction, the chief executive officer directly owned 83,337 shares of the company’s stock, valued at $17,960,790.24. This trade represents a 30.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 53,451 shares of company stock worth $11,386,689. 0.82% of the stock is owned by insiders.

Institutional Trading of Regal Rexnord

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of Regal Rexnord by 208.1% in the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after acquiring an additional 11,987 shares during the period. Jones Financial Companies Lllp boosted its position in Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares during the period. Geneos Wealth Management Inc. increased its holdings in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Allworth Financial LP increased its holdings in Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in Regal Rexnord by 6.7% in the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock valued at $452,000 after purchasing an additional 196 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.