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

StockNews.com cut shares of Regal Rexnord (NYSE:RRX) from a buy rating to a hold rating in a research note released on Tuesday morning.

A number of other equities research analysts have also recently issued reports on RRX. Barclays increased their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an overweight rating in a research report on Wednesday, October 2nd. Raymond James initiated coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a market perform rating for the company. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an outperform rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, Loop Capital reiterated a buy rating and issued a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $192.71.

Regal Rexnord Stock Up 4.4 %

NYSE RRX opened at $171.21 on Tuesday. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of -8,560.50, a PEG ratio of 1.76 and a beta of 1.04. The stock’s 50 day moving average is $160.37 and its two-hundred day moving average is $156.23. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm earned $2.56 EPS. Regal Rexnord’s quarterly revenue was down 12.5% on a year-over-year basis. Equities analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 0.82%. Regal Rexnord’s payout ratio is -7,000.00%.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Regal Rexnord in the first quarter worth about $33,000. Headlands Technologies LLC bought a new position in shares of Regal Rexnord in the 2nd quarter valued at about $46,000. UMB Bank n.a. grew its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Regal Rexnord during the first quarter worth approximately $68,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Regal Rexnord in the second quarter valued at approximately $52,000. 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.