Barclays Cuts Regal Rexnord (NYSE:RRX) Price Target to $176.00

Regal Rexnord (NYSE:RRX) had its price objective cut by Barclays from $190.00 to $176.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Citigroup dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer dropped their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.75.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $137.31 on Friday. The company’s fifty day simple moving average is $156.24 and its 200-day simple moving average is $162.31. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a market cap of $9.09 billion, a PE ratio of 46.55, a P/E/G ratio of 1.38 and a beta of 1.03. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Equities research analysts expect that Regal Rexnord will post 10.32 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is presently 47.46%.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after acquiring an additional 28,278 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after acquiring an additional 9,338 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Regal Rexnord in the fourth quarter valued at about $811,000. PNC Financial Services Group Inc. grew its stake in shares of Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock valued at $2,042,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after acquiring an additional 77,215 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.