Regal Rexnord (NYSE:RRX) Reaches New 52-Week Low - Here's Why

Regal Rexnord Co. (NYSE:RRX - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $90.56 and last traded at $91.72, with a volume of 31748 shares. The stock had previously closed at $98.85.

Analysts Set New Price Targets

RRX has been the topic of several recent research reports. KeyCorp dropped their price target on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday. Oppenheimer dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Citigroup reduced their price target on Regal Rexnord from $170.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays cut their price objective 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Regal Rexnord presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.75.

Regal Rexnord Stock Up 2.5 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The firm's 50 day moving average is $122.43 and its two-hundred day moving average is $150.80. The firm has a market capitalization of $6.57 billion, a P/E ratio of 33.59, a PEG ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.57% and a net margin of 3.25%. Research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The firm 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 $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 dividend yield of 1.41%. Regal Rexnord's payout ratio is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 20.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company's stock valued at $337,712,000 after purchasing an additional 363,728 shares during the last quarter. Norges Bank acquired a new stake in shares of Regal Rexnord during the fourth quarter worth $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Regal Rexnord by 3.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company's stock valued at $206,729,000 after acquiring an additional 42,704 shares during the period. Franklin Resources Inc. grew its stake in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after acquiring an additional 77,215 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Regal Rexnord by 0.9% during the third 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 period. Institutional investors and hedge funds own 99.72% of the company's stock.

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.