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

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $189.83.

Several research firms have recently commented on RRX. Barclays decreased their target price on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. KeyCorp decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, The Goldman Sachs Group increased their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Regal Rexnord during the 4th quarter valued at approximately $180,918,000. The Manufacturers Life Insurance Company boosted its holdings in Regal Rexnord by 167.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock valued at $140,374,000 after purchasing an additional 593,862 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Regal Rexnord by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock valued at $254,832,000 after purchasing an additional 563,853 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Regal Rexnord by 87.3% in the 4th quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock valued at $148,249,000 after purchasing an additional 466,820 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Regal Rexnord during the fourth quarter worth about $49,041,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Trading Up 1.6 %

Shares of NYSE:RRX opened at $167.81 on Thursday. The company’s 50-day moving average price is $150.94 and its two-hundred day moving average price is $157.88. 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 one year low of $97.18 and a one year high of $183.85. The stock has a market capitalization of $11.16 billion, a PE ratio of -349.60, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the business posted $2.56 EPS. On average, equities analysts forecast that Regal Rexnord will post 9.53 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

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.