Regal Rexnord (NYSE:RRX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a report issued on Monday.

RRX has been the subject of several other reports. Citigroup decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group began 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. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer cut their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Barclays lowered their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.13.

Regal Rexnord Stock Performance

Shares of RRX opened at $113.80 on Monday. Regal Rexnord has a one year low of $111.15 and a one year high of $185.28. The company has a 50-day simple moving average of $135.21 and a two-hundred day simple moving average of $155.42. 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 has a market capitalization of $7.54 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results 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 net margin of 3.25% and a return on equity of 9.57%. On average, analysts anticipate that Regal Rexnord 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. Shareholders 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 1.23%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RRX. Cerity Partners LLC lifted its stake in Regal Rexnord by 11.7% during the 3rd quarter. Cerity Partners LLC now owns 2,632 shares of the company’s stock valued at $436,000 after acquiring an additional 276 shares during the period. Townsquare Capital LLC purchased a new position in shares of Regal Rexnord during the third quarter valued at approximately $267,000. PEAK6 Investments LLC purchased a new position in shares of Regal Rexnord during the third quarter valued at approximately $1,557,000. Erste Asset Management GmbH bought a new position in Regal Rexnord during the third quarter valued at approximately $6,253,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Regal Rexnord in the third quarter worth approximately $255,000. 99.72% of the stock is owned by institutional investors.

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.