Regal Rexnord (NYSE:RRX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other equities analysts have also recently weighed in on the stock. Oppenheimer lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. KeyCorp reduced their price objective on Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Citigroup lowered their price target on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays cut their target price on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.75.

Regal Rexnord Trading Down 2.4 %

Shares of NYSE:RRX opened at $96.56 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.37 and a beta of 1.09. The company has a 50 day moving average price of $119.62 and a 200 day moving average price of $149.49. Regal Rexnord has a 1-year low of $90.56 and a 1-year high of $185.28.

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 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, research 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 was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.35 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. Regal Rexnord’s payout ratio is currently 47.46%.

Institutional Trading of Regal Rexnord

Several large investors have recently added to or reduced their stakes in RRX. Skandinaviska Enskilda Banken AB publ raised its position in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in Regal Rexnord in the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Regal Rexnord during the 4th quarter worth $33,000. Tobam acquired a new position in shares of Regal Rexnord in the 4th quarter valued at $45,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Regal Rexnord by 90.5% in the 4th 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 last quarter. 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.