Brokerages Set Regal Rexnord Co. (NYSE:RRX) Price Target at $189.83

Shares of Regal Rexnord Co. (NYSE:RRX) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $189.83.

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. KeyCorp lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Barclays decreased their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd.

Regal Rexnord Stock Performance

NYSE:RRX opened at $153.44 on Friday. The firm has a market capitalization of $10.21 billion, a PE ratio of -319.67, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The business’s fifty day moving average price is $144.77 and its 200 day moving average price is $155.72. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Regal Rexnord by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after buying an additional 24,847 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Regal Rexnord by 80.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after acquiring an additional 226,435 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Regal Rexnord by 7.7% during the fourth quarter. Channing Capital Management LLC now owns 84,383 shares of the company’s stock worth $12,490,000 after purchasing an additional 6,051 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after purchasing an additional 4,342 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Regal Rexnord by 161.4% in the 1st quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after purchasing an additional 4,798 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

About Regal Rexnord

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.