Regal Rexnord (NYSE:RRX) Given New $160.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its price target lowered by Barclays from $176.00 to $160.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective for the company. Citigroup lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.75.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $117.45 on Monday. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The business has a 50 day simple moving average of $145.90 and a 200-day simple moving average of $159.42. Regal Rexnord has a twelve month low of $117.05 and a twelve month high of $185.28. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released 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, equities research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid 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 1.19%. Regal Rexnord’s payout ratio is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

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