Regal Rexnord (NYSE:RRX) Given New $176.00 Price Target at Barclays

Regal Rexnord (NYSE:RRX) had its price target decreased by Barclays from $190.00 to $176.00 in a research report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

RRX has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. 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, Oppenheimer lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.75.

Regal Rexnord Stock Performance

Shares of RRX opened at $137.31 on Friday. The business has a 50-day simple moving average of $156.24 and a two-hundred day simple moving average of $162.28. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 46.55, a PEG ratio of 1.38 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 52 week low of $130.94 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. On average, analysts expect that Regal Rexnord will post 10.32 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. Regal Rexnord’s payout ratio is 47.46%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRX. Sanctuary Advisors LLC acquired a new stake in shares of Regal Rexnord during the second quarter worth $263,000. Ritholtz Wealth Management acquired a new stake in Regal Rexnord in the third quarter valued at approximately $271,000. Creative Planning increased its holdings in Regal Rexnord by 11.6% in the 3rd quarter. Creative Planning now owns 3,131 shares of the company’s stock worth $519,000 after acquiring an additional 326 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Regal Rexnord during the third quarter worth about $219,000. Finally, Blue Trust Inc. raised its holdings in shares of Regal Rexnord by 28.7% during the third quarter. Blue Trust Inc. now owns 4,225 shares of the company’s stock valued at $701,000 after acquiring an additional 943 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other 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.