Regal Rexnord (NYSE:RRX) PT Raised to $210.00 at KeyCorp

Regal Rexnord (NYSE:RRX) had its price target lifted by KeyCorp from $180.00 to $210.00 in a report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer boosted their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th. Wolfe Research upgraded Regal Rexnord from a peer perform rating to an outperform rating and set a $151.00 target price for the company in a research note on Monday, December 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $195.50.

Regal Rexnord Stock Up 1.0 %

Shares of NYSE:RRX opened at $180.10 on Monday. The company has a market cap of $11.96 billion, a price-to-earnings ratio of -207.01, a PEG ratio of 1.79 and a beta of 1.14. The firm’s 50-day simple moving average is $159.86 and its 200-day simple moving average is $141.64. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $2.64 earnings per share. The company’s revenue was up 29.2% on a year-over-year basis. As a group, equities research analysts predict that Regal Rexnord will post 10.05 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, March 27th. Regal Rexnord’s dividend payout ratio is currently -160.92%.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,570 shares of company stock valued at $892,301. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Regal Rexnord by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after buying an additional 24,847 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Regal Rexnord during the fourth quarter valued at $70,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Regal Rexnord by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,868 shares of the company’s stock valued at $5,458,000 after purchasing an additional 2,278 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Regal Rexnord during the fourth quarter valued at $315,000. Finally, Legal & General Group Plc lifted its holdings in shares of Regal Rexnord by 3.9% during the fourth quarter. Legal & General Group Plc now owns 106,394 shares of the company’s stock valued at $15,748,000 after purchasing an additional 3,993 shares during the last quarter. 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.