Brokerages Set Regal Rexnord Co. (NYSE:RRX) PT at $195.75

Shares of Regal Rexnord Co. (NYSE:RRX) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $195.75.

A number of brokerages have recently weighed in on RRX. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Barclays decreased their price target on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Citigroup reduced their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th.

Regal Rexnord Stock Performance

Shares of NYSE:RRX opened at $120.82 on Monday. Regal Rexnord has a twelve month low of $113.73 and a twelve month high of $185.28. The firm has a market cap of $8.01 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The business has a fifty day moving average of $139.44 and a 200-day moving average of $156.57.

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

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders 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 dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

Hedge Funds Weigh In On Regal Rexnord

Several institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Regal Rexnord in the 4th quarter valued at approximately $235,188,000. Point72 Asset Management L.P. acquired a new position in shares of Regal Rexnord during the 3rd quarter worth approximately $83,460,000. Westfield Capital Management Co. LP increased its position in shares of Regal Rexnord by 68.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 979,521 shares of the company’s stock worth $162,483,000 after purchasing an additional 399,649 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock worth $139,569,000 after purchasing an additional 399,267 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after purchasing an additional 363,728 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.