Regal Rexnord (NYSE:RRX) Price Target Cut to $176.00 by Analysts at Barclays

Regal Rexnord (NYSE:RRX) had its price target cut by Barclays from $190.00 to $176.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on the company. Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.75.

Regal Rexnord Stock Performance

NYSE RRX opened at $137.31 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.09 billion, a PE ratio of 46.55, a P/E/G ratio of 1.38 and a beta of 1.03. The stock has a fifty day simple moving average of $156.24 and a 200-day simple moving average of $162.28. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results 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%. Equities analysts anticipate that Regal Rexnord will post 10.32 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ grew its position in Regal Rexnord by 472.4% in 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. acquired a new stake in shares of Regal Rexnord in the fourth quarter worth about $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Regal Rexnord during the 4th quarter worth $33,000. Tobam bought a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp grew its position in Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.