Regal Rexnord (NYSE:RRX) PT Raised to $208.00

Regal Rexnord (NYSE:RRX) had its price target upped by research analysts at Robert W. Baird from $205.00 to $208.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 32.18% from the stock’s current price.

A number of other research analysts have also recently commented on RRX. KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Barclays boosted their target price on shares of Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Oppenheimer raised their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $196.40.

Regal Rexnord Price Performance

NYSE RRX opened at $157.36 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of -180.87, a PEG ratio of 1.64 and a beta of 1.16. The company’s 50 day moving average is $169.70 and its two-hundred day moving average is $146.61.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 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 26.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.22 EPS. As a group, research analysts anticipate that Regal Rexnord will post 10.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord 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 completion of the transaction, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, 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 have sold 5,570 shares of company stock valued at $892,301 over the last ninety days. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in shares of Regal Rexnord by 2.1% during the third quarter. FMR LLC now owns 8,978,384 shares of the company’s stock worth $1,282,831,000 after purchasing an additional 181,889 shares during the last quarter. Vanguard Group Inc. increased its stake in Regal Rexnord by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after buying an additional 24,847 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Regal Rexnord by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock valued at $522,892,000 after buying an additional 135,154 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Regal Rexnord by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock valued at $206,862,000 after buying an additional 30,688 shares during the period. Finally, Norges Bank purchased a new stake in Regal Rexnord in the 4th quarter valued at about $180,918,000. 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.