Regal Rexnord (NYSE:RRX) Sets New 1-Year Low – Here’s Why

Regal Rexnord Co. (NYSE:RRX) reached a new 52-week low on Monday . The stock traded as low as $111.15 and last traded at $113.97, with a volume of 58717 shares changing hands. The stock had previously closed at $117.68.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RRX. Barclays reduced their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Citigroup decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group upped 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. Oppenheimer reduced their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com cut Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.13.

Regal Rexnord Stock Down 3.6 %

The stock has a market cap of $7.52 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average of $136.06 and a 200 day moving average of $155.67.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. On average, equities research analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RRX. Norges Bank purchased a new position in shares of Regal Rexnord during the fourth quarter worth about $235,188,000. Point72 Asset Management L.P. acquired a new stake in shares of Regal Rexnord in the 3rd quarter valued at about $83,460,000. Nuveen Asset Management LLC grew its stake in Regal Rexnord by 79.8% during the 4th quarter. Nuveen Asset Management LLC now owns 899,688 shares of the company’s stock worth $139,569,000 after buying an additional 399,267 shares during the last quarter. Victory Capital Management Inc. increased its position in Regal Rexnord by 20.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after buying an additional 363,728 shares during the period. Finally, Cartenna Capital LP purchased a new stake in Regal Rexnord in the fourth quarter valued at approximately $55,900,000. 99.72% of the stock is 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.