Regal Rexnord (NYSE:RRX) Shares Gap Down – Should You Sell?

Regal Rexnord Co. (NYSE:RRX) gapped down before the market opened on Tuesday . The stock had previously closed at $170.22, but opened at $150.30. Regal Rexnord shares last traded at $164.10, with a volume of 63,952 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. KeyCorp lowered their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group upped their price objective on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Barclays upped their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.63.

Regal Rexnord Stock Down 1.9 %

The company has a 50 day moving average of $165.20 and a 200-day moving average of $156.13. The company has a market capitalization of $11.11 billion, a P/E ratio of -8,341.50, a PEG ratio of 1.78 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.04. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. As a group, equities analysts anticipate that Regal Rexnord Co. will post 9.48 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is currently -7,000.00%.

Institutional Trading of Regal Rexnord

Several large investors have recently bought and sold shares of RRX. Hengehold Capital Management LLC boosted its position in shares of Regal Rexnord by 1.5% during the third quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock valued at $716,000 after purchasing an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock valued at $75,000 after buying an additional 67 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Regal Rexnord by 13.9% during the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after buying an additional 79 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Regal Rexnord by 2.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock worth $686,000 after buying an additional 95 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Regal Rexnord by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after acquiring an additional 95 shares in 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.