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

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

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

Regal Rexnord Stock Performance

Shares of RRX stock traded up $0.18 during trading hours on Wednesday, hitting $151.86. The stock had a trading volume of 526,697 shares, compared to its average volume of 600,237. The firm has a market capitalization of $10.07 billion, a PE ratio of 43.26, a PEG ratio of 1.54 and a beta of 1.17. Regal Rexnord has a twelve month low of $90.56 and a twelve month high of $185.28. The stock's 50 day moving average is $140.63 and its 200 day moving average is $133.99. 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 data 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate 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 company earned $2.00 earnings per share. As a group, research analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, June 30th. Regal Rexnord's dividend payout ratio (DPR) is currently 39.89%.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the firm'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 completion of the sale, the chief executive officer owned 175,954 shares of the company's stock, valued at approximately $24,691,624.82. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ lifted its holdings in Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 137 shares during the period. Geneos Wealth Management Inc. lifted its holdings in 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 acquiring an additional 127 shares during the period. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord in the fourth quarter valued at $30,000. Golden State Wealth Management LLC lifted its holdings in 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 acquiring an additional 138 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 99.72% of the company's stock.

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.