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

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

Other analysts also recently issued research reports about the stock. Oppenheimer lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. 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 price objective for the company. Citigroup lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group increased 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $195.13.

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Regal Rexnord Trading Down 2.3 %

NYSE:RRX traded down $2.76 during trading hours on Wednesday, hitting $118.03. 693,391 shares of the company were exchanged, compared to its average volume of 491,018. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. Regal Rexnord has a one year low of $113.73 and a one year high of $185.28. The company has a fifty day simple moving average of $136.06 and a 200 day simple moving average of $155.62. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. Sell-side analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is presently 47.46%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock valued at $72,375,000 after purchasing an additional 28,278 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Regal Rexnord by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after acquiring an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new position in Regal Rexnord in the fourth quarter worth $811,000. Franklin Resources Inc. lifted its stake in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock worth $204,254,000 after purchasing an additional 77,215 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Regal Rexnord by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,774 shares of the company's stock valued at $71,623,000 after purchasing an additional 4,752 shares during the last quarter. 99.72% of the stock is currently 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.