Regal Rexnord Co. (NYSE:RRX) Receives $197.75 Average Price Target from Brokerages

Regal Rexnord Co. (NYSE:RRX) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $197.75.

A number of equities research analysts have commented on the stock. Robert W. Baird reduced their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Barclays reduced their price target on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Friday, February 14th. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock worth $72,375,000 after purchasing an additional 28,278 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Regal Rexnord by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock worth $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new position in Regal Rexnord during the fourth quarter worth about $811,000. PNC Financial Services Group Inc. boosted its holdings in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $134.25 on Thursday. Regal Rexnord has a twelve month low of $128.95 and a twelve month high of $185.28. The firm has a fifty day simple moving average of $151.63 and a 200 day simple moving average of $161.46. The company has a market capitalization of $8.89 billion, a PE ratio of 45.51, a P/E/G ratio of 1.37 and a beta of 1.03. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, sell-side analysts forecast that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

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.