Regal Rexnord Corporation (NYSE:RRX) Receives $185.25 Consensus PT from Brokerages

Shares of Regal Rexnord Corporation (NYSE:RRX - Get Free Report) have been assigned an average rating of "Buy" from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $185.25.

Several research analysts recently weighed in on RRX shares. Barclays raised their target price on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group upped their target price on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Robert W. Baird upped their target price on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Citigroup reissued a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th.

Regal Rexnord Price Performance

RRX stock traded up $0.06 during trading on Friday, hitting $152.38. The stock had a trading volume of 716,626 shares, compared to its average volume of 605,722. The company's 50 day moving average price is $142.84 and its two-hundred day moving average price is $133.57. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $185.28. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.21 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.67% and a net margin of 3.96%. Regal Rexnord's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 EPS. On average, sell-side analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were paid a $0.35 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. Regal Rexnord's payout ratio is 39.89%.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following the sale, the chief executive officer directly owned 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company's stock.

Institutional Trading of Regal Rexnord

A number of large investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. grew its position in Regal Rexnord by 67.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 83,626 shares of the company's stock valued at $12,122,000 after acquiring an additional 33,581 shares during the period. Westhampton Capital LLC grew its position in Regal Rexnord by 3.0% in the second quarter. Westhampton Capital LLC now owns 17,395 shares of the company's stock valued at $2,522,000 after acquiring an additional 500 shares during the period. Janney Montgomery Scott LLC grew its position in Regal Rexnord by 7.0% in the second quarter. Janney Montgomery Scott LLC now owns 4,406 shares of the company's stock valued at $639,000 after acquiring an additional 287 shares during the period. Signaturefd LLC grew its position in Regal Rexnord by 14.2% in the second quarter. Signaturefd LLC now owns 1,040 shares of the company's stock valued at $151,000 after acquiring an additional 129 shares during the period. Finally, Steph & Co. boosted its stake in Regal Rexnord by 5.2% in the second quarter. Steph & Co. now owns 5,181 shares of the company's stock worth $751,000 after purchasing an additional 258 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.