Barclays Cuts Regal Rexnord (NYSE:RRX) Price Target to $160.00

Regal Rexnord (NYSE:RRX) had its target price decreased by Barclays from $176.00 to $160.00 in a report published on Monday, Marketbeat.com reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Oppenheimer cut their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lifted their price objective 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, Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $195.75.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $118.81 on Monday. The stock has a market capitalization of $7.87 billion, a P/E ratio of 40.27, a PEG ratio of 1.37 and a beta of 1.11. The business has a 50 day simple moving average of $144.45 and a two-hundred day simple moving average of $158.79. Regal Rexnord has a 12 month low of $113.73 and a 12 month high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data 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 net margin of 3.25% and a return on equity of 9.57%. As a group, analysts predict that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a yield of 1.18%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Institutional Trading of Regal Rexnord

Institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in Regal Rexnord during the 4th quarter worth $1,427,000. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the 4th quarter worth approximately $31,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of Regal Rexnord by 12.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,369 shares of the company’s stock worth $368,000 after acquiring an additional 264 shares during the period. Integrated Advisors Network LLC purchased a new position in Regal Rexnord in the 4th quarter valued at approximately $319,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Regal Rexnord during the fourth quarter worth $9,463,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

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.