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

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

RRX has been the subject of several other research reports. Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. 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 target price on the stock. The Goldman Sachs Group upped their target price 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. Finally, Robert W. Baird lowered 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, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $203.25.

Regal Rexnord Stock Down 0.7 %

Shares of NYSE:RRX opened at $155.07 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The firm has a market capitalization of $10.27 billion, a PE ratio of 48.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The business has a 50 day simple moving average of $167.21 and a two-hundred day simple moving average of $160.59. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm had revenue of $1.48 billion for 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 business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities analysts predict that Regal Rexnord will post 9.24 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.90%. Regal Rexnord’s payout ratio is 44.16%.

Insiders Place Their Bets

In other news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of Regal Rexnord during the 2nd quarter valued at $46,000. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after buying an additional 100 shares during the period. 1620 Investment Advisors Inc. grew its holdings in Regal Rexnord by 17.4% in the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP grew its holdings in Regal Rexnord by 752.9% in the second quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other 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.