Regal Rexnord (NYSE:RRX) Price Target Cut to $199.00 by Analysts at Barclays

Regal Rexnord (NYSE:RRX) had its price target cut by Barclays from $203.00 to $199.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on RRX. Oppenheimer upped their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. Robert W. Baird increased their target price on Regal Rexnord from $205.00 to $208.00 and gave the company an outperform rating in a research note on Wednesday. Finally, KeyCorp lifted their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an overweight rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $195.60.

Regal Rexnord Trading Up 2.3 %

Shares of NYSE:RRX traded up $3.63 during midday trading on Wednesday, reaching $161.00. The company’s stock had a trading volume of 327,245 shares, compared to its average volume of 463,133. The business has a 50 day moving average price of $169.44 and a 200 day moving average price of $146.68. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of -185.78, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.22 EPS. Research analysts forecast that Regal Rexnord will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. Regal Rexnord’s dividend payout ratio is currently -160.92%.

Insider Buying and Selling at Regal Rexnord

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

Institutional Trading of Regal Rexnord

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Regal Rexnord during the 4th quarter valued at $180,918,000. Third Point LLC purchased a new stake in shares of Regal Rexnord during the third quarter valued at $92,872,000. The Manufacturers Life Insurance Company increased its stake in Regal Rexnord by 167.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock worth $140,374,000 after purchasing an additional 593,862 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Regal Rexnord during the 3rd quarter worth about $71,899,000. Finally, Franklin Resources Inc. lifted its stake in Regal Rexnord by 87.3% during the fourth quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock valued at $148,249,000 after buying an additional 466,820 shares in the last quarter. 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.