Regal Rexnord (NYSE:RRX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Other equities analysts have also issued research reports about the stock. Barclays decreased their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Citigroup cut their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $195.13.

Regal Rexnord Trading Down 3.6 %

Regal Rexnord stock opened at $113.80 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a fifty-two week low of $111.15 and a fifty-two week high of $185.28. The stock has a market cap of $7.54 billion, a P/E ratio of 38.57, a PEG ratio of 1.37 and a beta of 1.11. The firm’s fifty day moving average price is $135.21 and its 200-day moving average price is $155.42.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Equities research analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s dividend payout ratio is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Regal Rexnord by 20.1% in the fourth 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 Regal Rexnord by 1.3% during the 3rd 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 position in Regal Rexnord during the 4th quarter valued at approximately $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 4th 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 buying an additional 42,704 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Regal Rexnord by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after buying an additional 77,215 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.