Regal Rexnord (NYSE:RRX) Sets New 1-Year Low – Here’s What Happened

Regal Rexnord Co. (NYSE:RRX) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $128.95 and last traded at $130.42, with a volume of 126493 shares trading hands. The stock had previously closed at $133.37.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 price target for the company. Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Barclays dropped their price target on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Robert W. Baird decreased their price objective on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord has a consensus rating of “Moderate Buy” and an average price target of $197.75.

Regal Rexnord Trading Down 1.2 %

The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average price is $152.22 and its 200-day moving average price is $161.60. The stock has a market capitalization of $8.73 billion, a PE ratio of 44.48, a PEG ratio of 1.37 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Regal Rexnord Co. will post 9.95 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 Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.06%. Regal Rexnord’s dividend payout ratio (DPR) is 47.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of Regal Rexnord by 20.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock worth $337,712,000 after buying an additional 363,728 shares in the last quarter. State Street Corp grew its position in Regal Rexnord by 1.3% in the third quarter. State Street Corp now owns 1,972,866 shares of the company’s stock worth $327,944,000 after acquiring an additional 24,860 shares in the last quarter. Norges Bank purchased a new position in Regal Rexnord in the fourth quarter worth about $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Regal Rexnord by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company’s stock valued at $206,729,000 after purchasing an additional 42,704 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Regal Rexnord by 7.2% in the 3rd 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 last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

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.