Regal Rexnord (NYSE:RRX) Price Target Increased to $195.00 by Analysts at The Goldman Sachs Group

Regal Rexnord (NYSE:RRX) had its price objective increased by The Goldman Sachs Group from $176.00 to $195.00 in a research note published on Friday morning, MarketBeat reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Barclays reduced their price target on Regal Rexnord from $181.00 to $180.00 and set an overweight rating on the stock in a research note on Friday. StockNews.com downgraded Regal Rexnord from a buy rating to a hold rating in a report on Thursday, July 4th. Robert W. Baird upped their price objective on Regal Rexnord from $208.00 to $213.00 and gave the stock an outperform rating in a report on Friday. KeyCorp lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an overweight rating for the company in a report on Monday, July 15th. Finally, Raymond James initiated coverage on Regal Rexnord in a report on Friday, June 28th. They issued a market perform rating for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $189.83.

Regal Rexnord Stock Up 3.7 %

Regal Rexnord stock traded up $5.39 during midday trading on Friday, reaching $152.10. The company’s stock had a trading volume of 443,894 shares, compared to its average volume of 462,436. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The business has a 50-day simple moving average of $144.40 and a 200-day simple moving average of $155.43. The company has a market cap of $10.12 billion, a P/E ratio of -316.58, a P/E/G ratio of 1.59 and a beta of 1.06. The company has a quick ratio of 1.56, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company earned $2.56 EPS. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, research analysts expect that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. Regal Rexnord’s payout ratio is -291.67%.

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in shares of Regal Rexnord during the first quarter worth about $33,000. 1620 Investment Advisors Inc. bought a new position in Regal Rexnord in the second quarter worth about $52,000. GAMMA Investing LLC bought a new position in Regal Rexnord in the fourth quarter worth about $58,000. EntryPoint Capital LLC bought a new position in Regal Rexnord in the first quarter worth about $68,000. Finally, Riverview Trust Co bought a new position in Regal Rexnord in the first quarter worth about $75,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.