Regal Rexnord (NYSE:RRX) Sets New 52-Week Low – Should You Sell?

Regal Rexnord Co. (NYSE:RRX) hit a new 52-week low on Monday . The company traded as low as $127.57 and last traded at $128.28, with a volume of 136275 shares changing hands. The stock had previously closed at $129.40.

Wall Street Analyst Weigh In

RRX has been the topic of several research reports. Robert W. Baird dropped their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Barclays reduced their price target on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Oppenheimer decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Jefferies Financial Group started coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.75.

Regal Rexnord Stock Down 4.5 %

The company has a market cap of $8.19 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a 50-day simple moving average of $150.13 and a 200-day simple moving average of $160.99.

Regal Rexnord (NYSE:RRX) last announced its 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 net margin of 3.25% and a return on equity of 9.57%. As a group, analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is currently 47.46%.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently modified their holdings of RRX. Skandinaviska Enskilda Banken AB publ grew its holdings in Regal Rexnord by 472.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares during the period. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in Regal Rexnord during the fourth quarter worth approximately $33,000. Tobam bought a new stake in Regal Rexnord during the fourth quarter worth approximately $45,000. Finally, Jones Financial Companies Lllp grew its position 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 buying an additional 153 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

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.