Regal Rexnord (NYSE:RRX) Reaches New 1-Year Low – Here’s What Happened

Shares of Regal Rexnord Co. (NYSE:RRX) reached a new 52-week low during trading on Monday . The company traded as low as $111.15 and last traded at $113.97, with a volume of 58717 shares traded. The stock had previously closed at $117.68.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays decreased their price target on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Oppenheimer reduced their price objective 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. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $195.13.

Regal Rexnord Trading Down 3.6 %

The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $136.06 and its 200-day moving average is $155.67. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last announced 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%. Research analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Institutional Trading of Regal Rexnord

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Regal Rexnord by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after acquiring an additional 28,278 shares during the last quarter. Geode Capital Management LLC increased its holdings in Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after purchasing an additional 9,338 shares during the last quarter. First Hawaiian Bank purchased a new stake in Regal Rexnord in the fourth quarter valued at approximately $811,000. Franklin Resources Inc. lifted its stake in Regal Rexnord by 7.2% during the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Regal Rexnord by 16.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company’s stock worth $2,613,000 after buying an additional 2,414 shares during the period. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.