Regal Rexnord Co. (NYSE:RRX) Receives $195.50 Consensus Price Target from Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) have been given an average rating of "Buy" by the four brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $195.50.

RRX has been the subject of a number of recent research reports. Oppenheimer boosted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, March 13th. KeyCorp boosted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, March 25th. Finally, Wolfe Research raised Regal Rexnord from a "peer perform" rating to an "outperform" rating and set a $151.00 price objective for the company in a report on Monday, December 11th.

Insider Transactions at Regal Rexnord

In other news, EVP Jerrald R. Morton sold 2,992 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thomas E. Valentyn sold 1,931 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. Insiders have sold 5,570 shares of company stock worth $892,301 in the last 90 days. Insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Regal Rexnord by 13.5% in the third quarter. The Manufacturers Life Insurance Company now owns 354,484 shares of the company's stock valued at $50,649,000 after purchasing an additional 42,110 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Regal Rexnord by 7.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company's stock worth $548,000 after acquiring an additional 253 shares during the period. UBS Group AG boosted its holdings in shares of Regal Rexnord by 58.8% in the third quarter. UBS Group AG now owns 90,990 shares of the company's stock worth $13,001,000 after acquiring an additional 33,689 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Regal Rexnord in the third quarter worth $491,000. Finally, Comerica Bank bought a new position in shares of Regal Rexnord in the second quarter worth $4,474,000. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Down 2.3 %

Regal Rexnord stock traded down $4.09 during midday trading on Monday, reaching $176.01. The stock had a trading volume of 509,283 shares, compared to its average volume of 470,805. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85. The company has a market capitalization of $11.69 billion, a P/E ratio of -202.31, a PEG ratio of 1.79 and a beta of 1.14. The company has a fifty day moving average price of $161.38 and a two-hundred day moving average price of $141.86. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $2.64 EPS. The firm's revenue was up 29.2% compared to the same quarter last year. As a group, equities analysts expect that Regal Rexnord will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. Regal Rexnord's payout ratio is presently -160.92%.

About Regal Rexnord

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.