Regal Rexnord (NYSE:RRX) Price Target Raised to $165.00 at Barclays

Regal Rexnord (NYSE:RRX - Free Report) had its target price hoisted by Barclays from $160.00 to $165.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Citigroup reissued a "buy" rating and set a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group raised their price objective on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday. KeyCorp set a $180.00 price target on Regal Rexnord and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Robert W. Baird lifted their price target on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of "Buy" and an average target price of $185.25.

Regal Rexnord Price Performance

Shares of NYSE:RRX traded up $1.38 on Wednesday, hitting $150.90. The company's stock had a trading volume of 769,591 shares, compared to its average volume of 599,081. The company has a 50-day simple moving average of $138.93 and a 200 day simple moving average of $134.07. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28. The company has a market capitalization of $10.01 billion, a PE ratio of 42.99, a PEG ratio of 1.52 and a beta of 1.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.26 and a quick ratio of 1.21.

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, beating the consensus estimate of $1.82 by $0.33. The firm had revenue of $1.42 billion for 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%. The company's revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 EPS. Sell-side analysts forecast that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. Regal Rexnord's dividend payout ratio is presently 39.89%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the sale, the chief executive officer directly owned 175,954 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently modified their holdings of RRX. Jones Financial Companies Lllp grew its stake 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 during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Regal Rexnord by 335.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock worth $97,000 after acquiring an additional 479 shares during the last quarter. Atria Investments Inc grew its stake in shares of Regal Rexnord by 48.9% in the fourth quarter. Atria Investments Inc now owns 2,310 shares of the company's stock worth $358,000 after acquiring an additional 759 shares during the last quarter. M&T Bank Corp grew its stake in shares of Regal Rexnord by 5.3% in the fourth quarter. M&T Bank Corp now owns 3,449 shares of the company's stock worth $535,000 after acquiring an additional 175 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Regal Rexnord in the fourth quarter worth $6,069,000. 99.72% of the stock is owned by hedge funds and other 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.