Regal Rexnord Corporation (NYSE:RRX) Receives $232.25 Consensus Target Price from Analysts

Shares of Regal Rexnord Corporation (NYSE:RRX) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $232.25.

A number of research analysts have recently commented on the stock. Barclays upped their price target on shares of Regal Rexnord from $237.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Citigroup increased their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. increased their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. KeyCorp increased their target price on shares of Regal Rexnord from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total transaction of $4,764,705.12. Following the transaction, the chief executive officer directly owned 56,749 shares in the company, valued at $12,012,628.32. This represents a 28.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Rehard sold 6,499 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the transaction, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. The trade was a 18.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,305 shares of company stock worth $6,341,869 in the last three months. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in shares of Regal Rexnord by 34.0% in the 4th quarter. IFP Advisors Inc now owns 193 shares of the company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Regal Rexnord by 5.6% in the 1st quarter. Parallel Advisors LLC now owns 938 shares of the company’s stock valued at $176,000 after buying an additional 50 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Regal Rexnord by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 14,855 shares of the company’s stock valued at $2,084,000 after buying an additional 60 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Regal Rexnord by 6.2% in the 4th quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $144,000 after buying an additional 60 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Regal Rexnord by 3.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,092 shares of the company’s stock valued at $392,000 after buying an additional 65 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Trading Up 0.6%

NYSE RRX opened at $212.51 on Wednesday. The company’s 50-day moving average price is $205.28 and its 200-day moving average price is $184.40. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $14.15 billion, a PE ratio of 49.42, a PEG ratio of 1.99 and a beta of 1.11. Regal Rexnord has a 12 month low of $127.96 and a 12 month high of $236.35.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.15 earnings per share. Equities research analysts forecast that Regal Rexnord will post 10.63 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Regal Rexnord’s dividend payout ratio is presently 32.56%.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.