Regal Rexnord (NYSE:RRX) Price Target Cut to $208.00 by Analysts at Robert W. Baird

Regal Rexnord (NYSE:RRX) had its target price cut by Robert W. Baird from $223.00 to $208.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on the company. KeyCorp lowered their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Loop Capital restated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Stock Down 2.2 %

Shares of RRX stock opened at $175.06 on Wednesday. Regal Rexnord has a 12 month low of $105.11 and a 12 month high of $185.28. The firm has a market cap of $11.59 billion, a PE ratio of 55.22, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The stock has a 50 day moving average of $166.02 and a 200-day moving average of $156.53. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned $2.10 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities analysts predict that Regal Rexnord will post 9.2 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is presently 44.16%.

Institutional Trading of Regal Rexnord

Several large investors have recently made changes to their positions in the business. Capital World Investors grew its holdings in shares of Regal Rexnord by 4.7% during the first quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Regal Rexnord by 7.1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after purchasing an additional 209,776 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after purchasing an additional 563,853 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Regal Rexnord by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,422,350 shares of the company’s stock valued at $192,338,000 after acquiring an additional 8,159 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Regal Rexnord by 24.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,125,445 shares of the company’s stock valued at $152,183,000 after acquiring an additional 222,775 shares during the period. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

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.