Brokerages Set Regal Rexnord Co. (NYSE:RRX) Price Target at $193.00

Regal Rexnord Co. (NYSE:RRX) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $193.00.

Several research firms recently weighed in on RRX. Citigroup started coverage on shares of Regal Rexnord in a report on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Barclays boosted their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Regal Rexnord by 8.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after purchasing an additional 4,342 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Regal Rexnord by 161.4% in the 1st quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock valued at $1,399,000 after acquiring an additional 4,798 shares during the period. Westfield Capital Management Co. LP raised its position in Regal Rexnord by 18.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock valued at $54,486,000 after purchasing an additional 47,379 shares during the last quarter. PEAK6 Investments LLC grew its position in Regal Rexnord by 52.2% during the 1st quarter. PEAK6 Investments LLC now owns 28,696 shares of the company’s stock worth $5,168,000 after purchasing an additional 9,848 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Regal Rexnord in the second quarter valued at $1,173,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Performance

NYSE RRX opened at $172.49 on Tuesday. The stock has a fifty day simple moving average of $166.89 and a 200-day simple moving average of $156.73. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market cap of $11.42 billion, a PE ratio of 54.14, a P/E/G ratio of 1.85 and a beta of 1.04. Regal Rexnord has a twelve month low of $113.79 and a twelve month high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. Regal Rexnord’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.10 earnings per share. Equities analysts anticipate that Regal Rexnord will post 9.2 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. Regal Rexnord’s dividend payout ratio is currently 44.16%.

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.