Analysts Set Regal Rexnord Corporation (NYSE:RRX) PT at $247.00

Shares of Regal Rexnord Corporation (NYSE:RRX) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $247.00.

Several equities research analysts recently commented on RRX shares. JPMorgan Chase & Co. increased their price target on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Wolfe Research set a $250.00 target price on Regal Rexnord in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Oppenheimer restated an “outperform” rating on shares of Regal Rexnord in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Regal Rexnord in a report on Monday, July 20th. They issued a “buy” rating and a $286.00 price objective on the stock.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the sale, the chief executive officer directly owned 56,749 shares in the company, valued at approximately $12,012,628.32. The trade was a 28.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director directly owned 5,503 shares in the company, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,305 shares of company stock valued at $6,341,869. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RRX. IFP Advisors Inc grew its position in 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 acquiring an additional 49 shares during the period. Parallel Advisors LLC raised its holdings in shares of Regal Rexnord by 5.6% in the 1st quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock worth $176,000 after purchasing an additional 50 shares during the period. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Regal Rexnord by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock worth $2,084,000 after purchasing an additional 60 shares during the period. UMB Bank n.a. lifted its stake in shares of Regal Rexnord by 6.2% in the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $144,000 after purchasing an additional 60 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of Regal Rexnord by 3.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after purchasing an additional 65 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

NYSE:RRX opened at $211.05 on Thursday. The company has a market cap of $14.05 billion, a P/E ratio of 49.08, a P/E/G ratio of 1.36 and a beta of 1.09. Regal Rexnord has a twelve month low of $127.96 and a twelve month high of $247.80. The company’s 50-day moving average price is $213.38 and its 200-day moving average price is $202.17. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.17 EPS 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $2.15 EPS. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Regal Rexnord will post 10.65 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 Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is 32.56%.

Regal Rexnord Company Profile

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.