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

Regal Rexnord (NYSE:RRX) had its target price trimmed by Citigroup from $210.00 to $190.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. StockNews.com raised shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 8th. Robert W. Baird cut their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays decreased their price target on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $202.00.

Regal Rexnord Stock Up 2.5 %

Shares of RRX stock opened at $155.59 on Tuesday. Regal Rexnord has a one year low of $130.94 and a one year 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 stock has a fifty day moving average price of $165.69 and a 200 day moving average price of $161.15. The stock has a market cap of $10.30 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. Analysts predict that Regal Rexnord will post 9.24 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.90%. Regal Rexnord’s dividend payout ratio (DPR) is currently 44.16%.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the sale, the chief executive officer now directly owns 149,618 shares in the company, valued at $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Choreo LLC bought a new position in Regal Rexnord in the second quarter valued at approximately $394,000. Headlands Technologies LLC acquired a new stake in shares of Regal Rexnord during the second quarter worth $46,000. Dimensional Fund Advisors LP increased its holdings in Regal Rexnord by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after purchasing an additional 8,159 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Regal Rexnord in the second quarter valued at about $949,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Regal Rexnord by 7.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,521 shares of the company’s stock worth $731,000 after buying an additional 402 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

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.