Regal Rexnord (NYSE:RRX) PT Raised to $210.00

Regal Rexnord (NYSE:RRX) had its price target upped by KeyCorp from $180.00 to $210.00 in a research report report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

RRX has been the topic of a number of other reports. Oppenheimer lifted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a report on Wednesday, March 13th. Wolfe Research upgraded shares of Regal Rexnord from a peer perform rating to an outperform rating and set a $151.00 target price on the stock in a report on Monday, December 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $195.50.

Regal Rexnord Stock Up 1.0 %

RRX opened at $180.10 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of -207.01, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The firm’s fifty day moving average is $159.86 and its 200 day moving average is $141.64. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. Regal Rexnord’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 EPS. On average, sell-side analysts forecast that Regal Rexnord will post 10.05 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Wednesday, March 27th. Regal Rexnord’s dividend payout ratio (DPR) is currently -160.92%.

Insider Buying and Selling

In related news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares in the company, valued at approximately $2,451,536.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold 5,570 shares of company stock valued at $892,301 in the last ninety days. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Garner Asset Management Corp bought a new position in shares of Regal Rexnord during the fourth quarter valued at approximately $28,000. Belpointe Asset Management LLC boosted its stake in shares of Regal Rexnord by 139.1% during the first quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in Regal Rexnord by 45.4% in the third quarter. Janiczek Wealth Management LLC now owns 282 shares of the company’s stock valued at $40,000 after acquiring an additional 88 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Regal Rexnord in the first quarter valued at approximately $42,000. 99.72% of the stock is currently 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.