Barclays Forecasts Strong Price Appreciation for Regal Rexnord (NYSE:RRX) Stock

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

Other equities analysts have also issued research reports about the company. Robert W. Baird increased their target price on Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. 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. Citigroup restated a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. The Goldman Sachs Group lifted their target price on Regal Rexnord from $173.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Regal Rexnord has a consensus rating of "Buy" and a consensus target price of $185.25.

Regal Rexnord Trading Up 0.8%

NYSE:RRX traded up $1.22 during trading hours on Wednesday, hitting $151.87. The company had a trading volume of 384,248 shares, compared to its average volume of 728,489. The company has a current ratio of 2.26, a quick ratio of 1.21 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $138.93 and a 200 day moving average of $134.07. The company has a market cap of $10.08 billion, a P/E ratio of 43.27, a P/E/G ratio of 1.52 and a beta of 1.17. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28.

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 business 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%. The company's revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 EPS. Sell-side analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

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

Insider Activity at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of Regal Rexnord 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 completion of the sale, the chief executive officer owned 175,954 shares of the company's stock, valued at $24,691,624.82. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in RRX. Moody National Bank Trust Division lifted its stake in shares of Regal Rexnord by 7.0% during the second quarter. Moody National Bank Trust Division now owns 6,211 shares of the company's stock worth $900,000 after purchasing an additional 404 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Regal Rexnord by 21.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,105 shares of the company's stock valued at $623,000 after acquiring an additional 717 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Regal Rexnord by 0.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 26,987 shares of the company's stock valued at $3,912,000 after acquiring an additional 201 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Regal Rexnord by 69.0% during the 2nd quarter. Parallel Advisors LLC now owns 818 shares of the company's stock valued at $119,000 after acquiring an additional 334 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Regal Rexnord by 32.6% in the first quarter. Voya Investment Management LLC now owns 43,698 shares of the company's stock worth $4,975,000 after buying an additional 10,755 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

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.