The Goldman Sachs Group Cuts Regal Rexnord (NYSE:RRX) Price Target to $163.00

Regal Rexnord (NYSE:RRX) had its price objective lowered by The Goldman Sachs Group from $183.00 to $163.00 in a research report report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on RRX. Barclays cut their price target on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Oppenheimer dropped 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 note on Friday, February 7th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Citigroup decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.88.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $121.80 on Wednesday. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 1.37 and a beta of 1.11. The firm’s 50-day moving average price is $133.45 and its two-hundred day moving average price is $154.90. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 1-year low of $111.15 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 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, equities analysts predict that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ lifted its stake in Regal Rexnord by 472.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 137 shares during the period. Bernard Wealth Management Corp. acquired a new stake in shares of Regal Rexnord in the 4th quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in Regal Rexnord during the 4th quarter worth approximately $33,000. Tobam bought a new stake 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% in 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 during the period. 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.