Barclays Cuts Regal Rexnord (NYSE:RRX) Price Target to $155.00

Regal Rexnord (NYSE:RRX) had its price objective decreased by Barclays from $160.00 to $155.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on RRX. Citigroup decreased their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. 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 note on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus target price of $195.13.

Regal Rexnord Trading Down 2.3 %

Shares of Regal Rexnord stock opened at $118.03 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The company has a market capitalization of $7.82 billion, a P/E ratio of 40.01, a PEG ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 1 year low of $113.73 and a 1 year high of $185.28. The company’s fifty day moving average is $136.06 and its two-hundred day moving average is $155.56.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. Analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Hedge Funds Weigh In On Regal Rexnord

Several hedge funds have recently added to or reduced their stakes in RRX. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Regal Rexnord by 11.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,478 shares of the company’s stock valued at $540,000 after acquiring an additional 346 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Regal Rexnord during the fourth quarter worth approximately $1,427,000. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord in the 4th quarter valued at $31,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of Regal Rexnord by 12.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,369 shares of the company’s stock valued at $368,000 after buying an additional 264 shares during the period. Finally, Integrated Advisors Network LLC purchased a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $319,000. 99.72% of the stock is currently owned by hedge funds and other 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.