Barclays Lowers Regal Rexnord (NYSE:RRX) Price Target to $155.00

Regal Rexnord (NYSE:RRX) had its price objective lowered by Barclays from $160.00 to $155.00 in a report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group lifted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, Citigroup dropped their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.13.

Regal Rexnord Stock Down 1.6 %

Shares of NYSE:RRX opened at $122.82 on Wednesday. The company has a 50 day moving average price of $137.58 and a two-hundred day moving average price of $156.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market capitalization of $8.14 billion, a PE ratio of 41.63, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 52 week low of $113.73 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Institutional Investors Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Regal Rexnord during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the 4th quarter worth approximately $33,000. Tobam acquired a new position in shares of Regal Rexnord during the 4th quarter worth approximately $45,000. Finally, Jones Financial Companies Lllp raised its stake in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after acquiring an additional 153 shares during the period. 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.