Regal Rexnord (NYSE:RRX) Price Target Lowered to $190.00 at Oppenheimer

Regal Rexnord (NYSE:RRX) had its price target trimmed by Oppenheimer from $210.00 to $190.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently weighed in on RRX. The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. 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 target on the stock. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird lowered their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup cut their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.50.

Regal Rexnord Stock Down 2.8 %

Regal Rexnord stock opened at $138.93 on Friday. The stock has a market cap of $9.20 billion, a PE ratio of 47.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.26. The stock has a fifty day moving average of $160.47 and a 200 day moving average of $162.90. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS 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%. As a group, sell-side analysts predict that Regal Rexnord will post 10.32 EPS for the current 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 paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

Institutional Trading of Regal Rexnord

Several hedge funds have recently added to or reduced their stakes in RRX. Creative Planning increased its holdings in shares of Regal Rexnord by 28.5% in the 2nd quarter. Creative Planning now owns 2,805 shares of the company’s stock valued at $379,000 after acquiring an additional 622 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Regal Rexnord in the second quarter valued at about $263,000. GAMMA Investing LLC boosted its stake in shares of Regal Rexnord by 30.0% during the 3rd quarter. GAMMA Investing LLC now owns 841 shares of the company’s stock worth $140,000 after acquiring an additional 194 shares in the last quarter. UMB Bank n.a. increased its position in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after buying an additional 145 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Regal Rexnord during the third quarter worth about $271,000. 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.