Barclays Cuts Regal Rexnord (NYSE:RRX) Price Target to $190.00

Regal Rexnord (NYSE:RRX) had its price objective cut by Barclays from $205.00 to $190.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

RRX has been the subject of several other research reports. 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 for the company. The Goldman Sachs Group upped their price target 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. Robert W. Baird reduced their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup began coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. Finally, Loop Capital reiterated a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $203.25.

Regal Rexnord Price Performance

NYSE RRX opened at $149.36 on Wednesday. Regal Rexnord has a 52 week low of $130.94 and a 52 week high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company has a 50-day moving average price of $166.70 and a two-hundred day moving average price of $160.52.

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, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm posted $2.10 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. Analysts forecast that Regal Rexnord will post 9.24 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Insider Transactions at Regal Rexnord

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

Institutional Investors Weigh In On Regal Rexnord

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in shares of Regal Rexnord by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after buying an additional 61 shares during the period. Hengehold Capital Management LLC grew its position in shares of Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after buying an additional 65 shares during the period. 1620 Investment Advisors Inc. increased its stake in Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after purchasing an additional 67 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Regal Rexnord by 2.7% in the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Regal Rexnord by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock valued at $601,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds 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.