Regal Rexnord (NYSE:RRX) Hits New 12-Month Low – What’s Next?

Regal Rexnord Co. (NYSE:RRX)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $111.15 and last traded at $113.97, with a volume of 58717 shares changing hands. The stock had previously closed at $117.68.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RRX shares. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. Barclays dropped their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. 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 research report on Thursday, December 12th. Finally, StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.13.

Regal Rexnord Trading Up 0.8 %

The company has a market cap of $7.60 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. 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 company’s fifty day moving average price is $134.26 and its two-hundred day moving average price is $155.14.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. Research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Institutional Trading of Regal Rexnord

Several hedge funds have recently modified their holdings of RRX. Skandinaviska Enskilda Banken AB publ lifted its holdings in Regal Rexnord by 472.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Regal Rexnord during the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord during the fourth quarter valued at $33,000. Tobam bought a new position in Regal Rexnord in the fourth quarter valued at about $45,000. Finally, Jones Financial Companies Lllp increased its position in Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after purchasing an additional 153 shares during the period. 99.72% of the stock is owned by 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.