Regal Rexnord (NYSE:RRX) Given New $213.00 Price Target at The Goldman Sachs Group

Regal Rexnord (NYSE:RRX) had its price target increased by The Goldman Sachs Group from $191.00 to $213.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on RRX. Loop Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays increased their price target on Regal Rexnord from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday. They set a “buy” rating and a $215.00 price objective for the company. Finally, Robert W. Baird cut their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $168.88 on Thursday. The firm has a 50 day simple moving average of $171.79 and a 200 day simple moving average of $158.71. Regal Rexnord has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The firm has a market cap of $11.18 billion, a P/E ratio of 53.27, a P/E/G ratio of 1.84 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 earnings per share. Sell-side analysts predict that Regal Rexnord will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in Regal Rexnord during the 2nd quarter worth about $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord during the second quarter worth about $52,000. UMB Bank n.a. grew its holdings in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after buying an additional 100 shares during the last quarter. Finally, CWM LLC lifted its stake in Regal Rexnord by 25.4% in the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock valued at $112,000 after acquiring an additional 167 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

About Regal Rexnord

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.