Regal Rexnord (NYSE:RRX) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a research report released on Thursday morning.

Other analysts have also recently issued research reports about the company. Raymond James started coverage on Regal Rexnord in a research report on Friday, June 28th. They set a market perform rating on the stock. KeyCorp boosted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an overweight rating in a research note on Monday, March 25th. Barclays lowered their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an overweight rating on the stock in a research report on Tuesday, June 4th. Oppenheimer lifted their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an outperform rating in a report on Wednesday, March 13th. Finally, Robert W. Baird raised their price objective on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of Moderate Buy and a consensus target price of $192.00.

Regal Rexnord Price Performance

Shares of RRX opened at $135.65 on Thursday. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $149.24 and a 200 day moving average price of $154.46.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.02. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 EPS. Equities analysts predict that Regal Rexnord will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 1.03%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Institutional Trading of Regal Rexnord

Several hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in Regal Rexnord by 27.4% during the third quarter. Hsbc Holdings PLC now owns 2,902 shares of the company’s stock worth $415,000 after purchasing an additional 625 shares in the last quarter. Mariner LLC raised its stake in shares of Regal Rexnord by 2.1% during the 3rd quarter. Mariner LLC now owns 5,525 shares of the company’s stock worth $789,000 after buying an additional 113 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Regal Rexnord by 7.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,834 shares of the company’s stock valued at $548,000 after buying an additional 253 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Regal Rexnord by 8.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,600 shares of the company’s stock valued at $657,000 after buying an additional 340 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in Regal Rexnord by 38.2% during the third quarter. Gotham Asset Management LLC now owns 10,838 shares of the company’s stock worth $1,549,000 after acquiring an additional 2,998 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

About Regal Rexnord

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.