Regal Rexnord (NYSE:RRX) Cut to “Hold” at StockNews.com

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

Several other analysts have also commented on RRX. KeyCorp reduced their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their target price on Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Oppenheimer lowered their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays decreased their price objective on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Price Performance

NYSE:RRX opened at $98.38 on Wednesday. The stock has a 50 day moving average price of $118.11 and a 200 day moving average price of $148.57. The stock has a market cap of $6.52 billion, a PE ratio of 33.35, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results 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 return on equity of 9.57% and a net margin of 3.25%. Equities research analysts expect that Regal Rexnord will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Monday, March 31st. Regal Rexnord’s payout ratio is presently 47.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ lifted its position in shares of 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 purchasing an additional 137 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Regal Rexnord in the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd purchased a new stake in Regal Rexnord during the fourth quarter worth approximately $33,000. Tobam acquired a new position in Regal Rexnord in the fourth quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp raised its holdings in Regal Rexnord by 90.5% during 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 in the last quarter. Hedge funds and other institutional investors 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.