Barclays Has Lowered Expectations for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its target price reduced by Barclays from $205.00 to $190.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup initiated coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a “buy” rating and a $200.00 target price for the company. Finally, Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $203.25.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $155.07 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87. Regal Rexnord has a twelve month low of $130.94 and a twelve month high of $185.28. The firm has a market cap of $10.27 billion, a PE ratio of 48.92, a P/E/G ratio of 1.83 and a beta of 1.04. The business has a 50-day moving average price of $167.21 and a 200 day moving average price of $160.59.

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

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.90%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Regal Rexnord during the 2nd quarter worth $46,000. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% in the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after purchasing an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after purchasing an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Regal Rexnord by 30.0% in the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock worth $140,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other 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.