Regal Rexnord (NYSE:RRX) Stock Price Expected to Rise, Barclays Analyst Says

Regal Rexnord (NYSE:RRX - Free Report) had its price objective lifted by Barclays from $160.00 to $165.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

RRX has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price target 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 company an "overweight" rating in a report on Thursday, June 26th. Robert W. Baird boosted their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Citigroup reiterated a "buy" rating and issued a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $185.25.

Regal Rexnord Trading Up 0.1%

Shares of NYSE:RRX traded up $0.18 during trading hours on Wednesday, hitting $151.86. 526,697 shares of the company's stock traded hands, compared to its average volume of 600,237. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28. The business has a fifty day moving average price of $140.63 and a 200-day moving average price of $133.99. The firm has a market capitalization of $10.07 billion, a P/E ratio of 43.26, 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 current ratio of 2.26 and a quick ratio of 1.21.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a net margin of 3.96% and a return on equity of 9.67%. The firm'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. Equities analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 0.92%. Regal Rexnord's dividend payout ratio is currently 39.89%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 10,593 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. increased its position in shares of Regal Rexnord by 6.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company's stock worth $351,070,000 after purchasing an additional 175,273 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Regal Rexnord by 4.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company's stock valued at $328,158,000 after acquiring an additional 115,564 shares during the period. Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company's stock valued at $277,435,000 after acquiring an additional 259,885 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Regal Rexnord by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company's stock valued at $194,955,000 after acquiring an additional 396,737 shares during the period. Finally, Norges Bank acquired a new position in shares of Regal Rexnord in the 4th quarter valued at $235,188,000. 99.72% of the stock is owned by institutional investors and hedge funds.

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.