Regal Rexnord (NYSE:RRX) Sets New 1-Year Low - Time to Sell?

Regal Rexnord Co. (NYSE:RRX - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $111.15 and last traded at $113.97, with a volume of 58717 shares. The stock had previously closed at $117.68.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RRX. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a "buy" rating and a $215.00 price target for the company. Barclays lowered their price objective on 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 reduced 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. The Goldman Sachs Group lowered their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Oppenheimer reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $188.88.

Regal Rexnord Stock Performance

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 $132.16 and its 200 day simple moving average is $154.54. The firm has a market cap of $6.55 billion, a PE ratio of 33.48, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data 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, research analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Regal Rexnord during the 4th quarter valued at approximately $235,188,000. Nuveen Asset Management LLC raised its holdings in shares of Regal Rexnord by 79.8% in the fourth 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 period. Victory Capital Management Inc. lifted its stake in shares of Regal Rexnord by 20.1% during the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock worth $337,712,000 after acquiring an additional 363,728 shares during the last quarter. Cartenna Capital LP purchased a new position in Regal Rexnord during the 4th quarter valued at $55,900,000. Finally, Alyeska Investment Group L.P. boosted its holdings in Regal Rexnord by 425.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 400,050 shares of the company's stock valued at $62,060,000 after acquiring an additional 323,904 shares during the period. 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.