Regal Rexnord (NYSE:RRX) Price Target Cut to $160.00 by Analysts at Barclays

Regal Rexnord (NYSE:RRX) had its price objective decreased by Barclays from $176.00 to $160.00 in a research note published on Monday morning, MarketBeat.com reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Citigroup decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Oppenheimer reduced their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.75.

Regal Rexnord Price Performance

RRX stock opened at $118.81 on Monday. The stock’s 50 day moving average price is $144.45 and its 200 day moving average price is $158.79. The firm has a market cap of $7.87 billion, a P/E ratio of 40.27, a PEG ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a 1 year low of $113.73 and a 1 year high of $185.28.

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

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

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