Analysts Set Regal Rexnord Co. (NYSE:RRX) Target Price at $170.75

Shares of Regal Rexnord Co. (NYSE:RRX) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $170.75.

RRX has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. KeyCorp lowered their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Tuesday, April 8th. Barclays decreased their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Finally, Oppenheimer dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the period. Bernard Wealth Management Corp. purchased a new stake in Regal Rexnord during the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the fourth quarter worth about $33,000. Tobam purchased a new position in shares of Regal Rexnord in the fourth quarter worth approximately $45,000. Finally, Jones Financial Companies Lllp increased its position in shares of Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after acquiring an additional 153 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $99.08 on Friday. The business has a 50 day simple moving average of $122.43 and a 200 day simple moving average of $150.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Regal Rexnord has a 12-month low of $90.56 and a 12-month high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS 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 anticipate that Regal Rexnord will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.41%. Regal Rexnord’s dividend payout ratio (DPR) is presently 47.46%.

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.