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

Regal Rexnord Co. (NYSE:RRX) hit a new 52-week low during trading on Monday . The stock traded as low as $90.56 and last traded at $91.72, with a volume of 31748 shares. The stock had previously closed at $98.85.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRX. KeyCorp decreased their price target on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their target price on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Oppenheimer decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.75.

Regal Rexnord Stock Down 1.3 %

The firm has a market capitalization of $6.15 billion, a P/E ratio of 31.29, a PEG 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. The stock has a 50 day moving average of $126.80 and a 200-day moving average of $152.49.

Regal Rexnord (NYSE:RRX) last issued its 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%. Research analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm 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. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Institutional Investors Weigh In On Regal Rexnord

Hedge funds have recently bought and sold shares of the stock. iA Global Asset Management Inc. increased its stake in Regal Rexnord by 2.7% in the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after acquiring an additional 68 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Regal Rexnord by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after buying an additional 77 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Regal Rexnord by 4.1% in the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock worth $332,000 after buying an additional 85 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock valued at $370,000 after acquiring an additional 87 shares during the last quarter. Finally, Advisory Research Inc. raised its stake in shares of Regal Rexnord by 1.5% during the fourth quarter. Advisory Research Inc. now owns 6,710 shares of the company’s stock worth $1,041,000 after acquiring an additional 98 shares in the last quarter. 99.72% of the stock is currently 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.