Regal Rexnord (NYSE:RRX) Hits New 12-Month Low After Analyst Downgrade

Regal Rexnord Co. (NYSE:RRX - Get Free Report)'s share price reached 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 changing hands. The stock had previously closed at $122.62.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective on the stock. StockNews.com cut Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 16th. Citigroup cut 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. The Goldman Sachs Group boosted their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Oppenheimer decreased their price objective 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $195.75.

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Hedge Funds Weigh In On Regal Rexnord

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Regal Rexnord by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company's stock worth $72,375,000 after purchasing an additional 28,278 shares in the last quarter. Geode Capital Management LLC increased its position in Regal Rexnord by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company's stock worth $183,195,000 after purchasing an additional 9,338 shares during the period. First Hawaiian Bank acquired a new stake in Regal Rexnord during the 4th quarter worth $811,000. PNC Financial Services Group Inc. increased its holdings in Regal Rexnord by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company's stock valued at $2,042,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company's stock valued at $204,254,000 after purchasing an additional 77,215 shares during the period. 99.72% of the stock is owned by institutional investors.

Regal Rexnord Price Performance

The company has a 50 day moving average of $144.45 and a 200 day moving average of $158.79. 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 has a market cap of $7.87 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced 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%. Equities research analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord's payout ratio is 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.