Regal Rexnord (NYSE:RRX) Given New $163.00 Price Target at The Goldman Sachs Group

Regal Rexnord (NYSE:RRX) had its price target cut by The Goldman Sachs Group from $183.00 to $163.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

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

Regal Rexnord Stock Up 6.2 %

Regal Rexnord stock opened at $121.80 on Wednesday. The company has a market capitalization of $8.07 billion, a P/E ratio of 41.29, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 1-year low of $111.15 and a 1-year high of $185.28. The firm’s fifty day simple moving average is $133.45 and its 200-day simple moving average 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 (NYSE:RRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share 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%. Sell-side analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RRX. iA Global Asset Management Inc. raised its stake in shares of Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after buying an additional 68 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in Regal Rexnord by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company’s stock worth $190,000 after purchasing an additional 77 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Regal Rexnord by 4.1% during the fourth quarter. Moors & Cabot Inc. now owns 2,139 shares of the company’s stock worth $332,000 after purchasing an additional 85 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Regal Rexnord by 3.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company’s stock valued at $370,000 after purchasing an additional 87 shares in the last quarter. Finally, Advisory Research Inc. grew its stake in shares of Regal Rexnord by 1.5% in the 4th quarter. Advisory Research Inc. now owns 6,710 shares of the company’s stock valued at $1,041,000 after purchasing an additional 98 shares during the period. 99.72% of the stock is owned by 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.