Analysts Set Regal Rexnord Co. (NYSE:RRX) PT at $191.29

Regal Rexnord Co. (NYSE:RRX) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $191.29.

RRX has been the topic of a number of analyst reports. KeyCorp lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating on the stock. Robert W. Baird boosted their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after acquiring an additional 24,847 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Regal Rexnord by 8.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock worth $10,515,000 after acquiring an additional 4,342 shares in the last quarter. Blair William & Co. IL grew its position in Regal Rexnord by 161.4% in the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after acquiring an additional 4,798 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Regal Rexnord by 18.6% in the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after acquiring an additional 47,379 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Regal Rexnord in the first quarter worth $19,508,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Trading Down 0.9 %

NYSE:RRX opened at $167.18 on Monday. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $11.12 billion, a PE ratio of -348.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The firm’s 50 day moving average is $158.04 and its 200 day moving average is $156.91. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. Regal Rexnord’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.56 EPS. Sell-side analysts expect that Regal Rexnord will post 9.48 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Regal Rexnord’s dividend payout ratio (DPR) is currently -291.67%.

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.