Regal Rexnord (NYSE:RRX) Price Target Cut to $110.00 by Analysts at Citigroup

Regal Rexnord (NYSE:RRX - Free Report) had its target price decreased by Citigroup from $170.00 to $110.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms have also commented on RRX. Oppenheimer reduced their price objective 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. StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th. The Goldman Sachs Group dropped their price objective on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Barclays decreased their target price on Regal Rexnord from $160.00 to $155.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, 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 target 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 MarketBeat, Regal Rexnord has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

Regal Rexnord Trading Up 2.5 %

NYSE RRX traded up $2.40 on Tuesday, reaching $99.08. The company had a trading volume of 1,542,639 shares, compared to its average volume of 524,409. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 1.37 and a beta of 1.09. 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 has a fifty-two week low of $90.56 and a fifty-two week high of $185.28. The business has a 50 day moving average of $122.43 and a two-hundred day moving average of $150.80.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.41%. Regal Rexnord's dividend payout ratio (DPR) is presently 47.46%.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently modified their holdings of RRX. NBC Securities Inc. raised its holdings in Regal Rexnord by 117,950.0% during the first quarter. NBC Securities Inc. now owns 2,361 shares of the company's stock worth $268,000 after buying an additional 2,359 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Regal Rexnord by 11,369.4% in the 1st quarter. GAMMA Investing LLC now owns 123,755 shares of the company's stock worth $14,090,000 after acquiring an additional 122,676 shares during the last quarter. First Hawaiian Bank lifted its position in Regal Rexnord by 30.0% in the 1st quarter. First Hawaiian Bank now owns 6,801 shares of the company's stock valued at $774,000 after acquiring an additional 1,571 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Regal Rexnord by 11.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,478 shares of the company's stock valued at $540,000 after purchasing an additional 346 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Regal Rexnord during the 4th quarter worth approximately $1,427,000. 99.72% of the stock is currently owned by 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.