Regal Rexnord Co. (NYSE:RRX) Receives $197.75 Consensus PT from Brokerages

Shares of Regal Rexnord Co. (NYSE:RRX) have received an average rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $197.75.

Several brokerages recently issued reports on RRX. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Barclays lowered their target price on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th.

Regal Rexnord Trading Down 1.1 %

NYSE RRX opened at $134.50 on Thursday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The business’s fifty day moving average is $152.87 and its 200 day moving average is $161.67.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Hedge Funds Weigh In On Regal Rexnord

Several institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its position in shares of Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after acquiring an additional 61 shares in the last quarter. 1620 Investment Advisors Inc. lifted its position in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after acquiring an additional 67 shares in the last quarter. iA Global Asset Management Inc. lifted its position in shares of Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after acquiring an additional 68 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after acquiring an additional 77 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Regal Rexnord by 4.1% during the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock worth $332,000 after acquiring an additional 85 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

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.