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

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

RRX has been the subject of a number of other reports. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target on the stock. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Oppenheimer cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a 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 an average target price of $195.13.

Regal Rexnord Trading Down 2.3 %

NYSE RRX opened at $118.03 on Wednesday. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. Regal Rexnord has a 12 month low of $113.73 and a 12 month high of $185.28. The company’s fifty day moving average price is $136.06 and its two-hundred day moving average price is $155.56.

Regal Rexnord (NYSE:RRX) last issued 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%. As a group, research analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds have recently made changes to their positions in RRX. Victory Capital Management Inc. increased its position in Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after acquiring an additional 363,728 shares during the period. State Street Corp increased its holdings in shares of Regal Rexnord by 1.3% during the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after purchasing an additional 24,860 shares during the period. Norges Bank bought a new stake in shares of Regal Rexnord during the fourth quarter valued at about $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Regal Rexnord by 3.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company’s stock worth $206,729,000 after purchasing an additional 42,704 shares during the period. Finally, Franklin Resources Inc. grew its position in Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after buying an additional 77,215 shares in 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.