Regal Rexnord (NYSE:RRX) PT Lowered to $180.00 at Barclays

Regal Rexnord (NYSE:RRX) had its price target reduced by Barclays from $181.00 to $180.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on the stock. Raymond James started coverage on shares of Regal Rexnord in a report on Friday, June 28th. They issued a market perform rating for the company. StockNews.com cut Regal Rexnord from a buy rating to a hold rating in a research report on Thursday, July 4th. KeyCorp decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an overweight rating for the company in a research report on Monday, July 15th. Finally, Robert W. Baird boosted their price objective on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an outperform rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord has a consensus rating of Moderate Buy and an average target price of $189.83.

Regal Rexnord Stock Performance

Shares of RRX stock traded down $3.79 during trading hours on Friday, reaching $147.25. The stock had a trading volume of 491,519 shares, compared to its average volume of 460,297. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.56. The firm has a market capitalization of $9.79 billion, a PE ratio of -314.67, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The firm has a 50-day simple moving average of $144.40 and a 200-day simple moving average of $155.43.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period last year, the company earned $2.56 earnings per share. As a group, equities analysts forecast that Regal Rexnord will post 9.5 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s payout ratio is -291.67%.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRX. Rise Advisors LLC acquired a new position in Regal Rexnord in the first quarter valued at approximately $33,000. EntryPoint Capital LLC acquired a new stake in shares of Regal Rexnord during the first quarter worth $68,000. 1620 Investment Advisors Inc. acquired a new position in Regal Rexnord in the second quarter valued at about $52,000. GAMMA Investing LLC bought a new position in Regal Rexnord during the fourth quarter worth about $58,000. Finally, Riverview Trust Co acquired a new position in shares of Regal Rexnord during the 1st quarter worth about $75,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.