Regal Rexnord Corporation (NYSE:RRX) Receives $237.80 Consensus Target Price from Brokerages

Regal Rexnord Corporation (NYSE:RRX) has been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $237.80.

A number of analysts have recently issued reports on the stock. UBS Group set a $260.00 price objective on shares of Regal Rexnord in a report on Monday, June 15th. Weiss Ratings restated a “hold (c)” rating on shares of Regal Rexnord in a research report on Tuesday, April 21st. Barclays upped their price objective on Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. raised their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th.

Insider Activity

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the transaction, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,305 shares of company stock valued at $6,341,869. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its position in Regal Rexnord by 81.6% during the 4th quarter. Covestor Ltd now owns 178 shares of the company’s stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Garner Asset Management Corp bought a new stake in Regal Rexnord in the fourth quarter valued at approximately $27,000. IFP Advisors Inc boosted its stake in shares of Regal Rexnord by 34.0% during the fourth quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after purchasing an additional 49 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Regal Rexnord in the third quarter worth approximately $35,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of RRX opened at $211.44 on Friday. Regal Rexnord has a 12-month low of $127.96 and a 12-month high of $247.80. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.08 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The stock has a 50-day moving average price of $212.40 and a 200-day moving average price of $193.86.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $2.15 earnings per share. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that Regal Rexnord will post 10.64 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 Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. Regal Rexnord’s dividend payout ratio (DPR) is 32.56%.

About Regal Rexnord

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.