Regal Rexnord (NYSE:RRX) Given New $190.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its price target upped by Barclays from $180.00 to $190.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Robert W. Baird increased their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Raymond James started coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They issued a market perform rating for the company. Loop Capital reissued a buy rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a buy rating in a research report on Friday, August 2nd. Finally, KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an overweight rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $192.71.

Regal Rexnord Trading Up 2.4 %

NYSE:RRX opened at $167.81 on Wednesday. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The stock’s 50-day simple moving average is $159.41 and its 200 day simple moving average is $156.50.

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

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio is -291.67%.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new position in Regal Rexnord during the first quarter worth about $33,000. Headlands Technologies LLC bought a new stake in Regal Rexnord in the 2nd quarter valued at about $46,000. EntryPoint Capital LLC acquired a new position in shares of Regal Rexnord during the 1st quarter worth approximately $68,000. 1620 Investment Advisors Inc. bought a new position in shares of Regal Rexnord during the second quarter worth approximately $52,000. Finally, Riverview Trust Co acquired a new stake in shares of Regal Rexnord in the first quarter valued at approximately $75,000. Institutional investors and hedge funds own 99.72% of the company’s stock.

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.