Regal Rexnord (NYSE:RRX) Reaches New 12-Month Low on Analyst Downgrade

Shares of Regal Rexnord Co. (NYSE:RRX - Get Free Report) hit a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $176.00 to $160.00. Barclays currently has an overweight rating on the stock. Regal Rexnord traded as low as $117.05 and last traded at $119.03, with a volume of 253446 shares traded. The stock had previously closed at $122.62.

RRX has been the subject of a number of other reports. Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price target for the company. Citigroup lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Oppenheimer cut 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. StockNews.com downgraded shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.75.

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Hedge Funds Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently made changes to their positions in RRX. Skandinaviska Enskilda Banken AB publ raised its stake in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Regal Rexnord during the fourth quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Regal Rexnord during the fourth quarter worth $33,000. Tobam purchased a new position in Regal Rexnord in the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp increased its stake in Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Regal Rexnord Stock Down 0.9 %

The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm's 50 day simple moving average is $145.17 and its 200-day simple moving average is $159.07.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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 return on equity of 9.57% and a net margin of 3.25%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. Regal Rexnord's dividend payout ratio is presently 47.46%.

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.