Analysts Set Regal Rexnord Corporation (NYSE:RRX) Target Price at $185.25

Key Points

• Regal Rexnord Corporation (NYSE:RRX) has received a consensus recommendation of "Buy" from eight research firms, with an average 12-month price target of $185.25.
• The company reported $2.48 earnings per share for the last quarter, exceeding analysts' estimates of $2.42, while also announcing a quarterly dividend of $0.35.
• Institutional investors hold 99.72% of Regal Rexnord's stock, indicating strong confidence in the company's performance and future prospects.

Shares of Regal Rexnord Corporation (NYSE:RRX - Get Free Report) have been assigned an average rating of "Buy" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $185.25.

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays lifted their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Citigroup reaffirmed a "buy" rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. Finally, Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its position in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares during the period. Allworth Financial LP grew its position in shares of Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company's stock valued at $28,000 after purchasing an additional 90 shares during the period. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord in the fourth quarter valued at $31,000. Golden State Wealth Management LLC grew its position in shares of Regal Rexnord by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock valued at $31,000 after purchasing an additional 138 shares during the period. Finally, Tobam grew its position in shares of Regal Rexnord by 54.8% in the second quarter. Tobam now owns 308 shares of the company's stock valued at $45,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 0.5%

Shares of RRX stock traded up $0.67 on Thursday, hitting $146.25. The stock had a trading volume of 170,953 shares, compared to its average volume of 764,304. The company's 50 day moving average price is $147.25 and its 200-day moving average price is $132.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a market capitalization of $9.71 billion, a P/E ratio of 38.90, a P/E/G ratio of 1.47 and a beta of 1.18.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business's revenue for the quarter was down 3.3% on a year-over-year basis. Analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord's payout ratio is currently 37.23%.

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.