Robert W. Baird Issues Pessimistic Forecast for Regal Rexnord (NYSE:RRX) Stock Price

Regal Rexnord (NYSE:RRX) had its price objective decreased by Robert W. Baird from $223.00 to $208.00 in a research report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

RRX has been the subject of several other research reports. Loop Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays raised their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective for the company. Finally, StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.00.

Regal Rexnord Stock Performance

RRX opened at $181.63 on Wednesday. The firm has a market cap of $12.09 billion, a PE ratio of 57.30, a P/E/G ratio of 1.80 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $165.60 and a 200-day simple moving average of $156.37. Regal Rexnord has a fifty-two week low of $100.00 and a fifty-two week high of $185.28.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $2.10 EPS. As a group, equities analysts predict that Regal Rexnord will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.77%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Hedge Funds Weigh In On Regal Rexnord

Several large investors have recently added to or reduced their stakes in RRX. Headlands Technologies LLC bought a new stake in Regal Rexnord during the 2nd quarter worth approximately $46,000. UMB Bank n.a. grew its position in 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 acquiring an additional 145 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Regal Rexnord during the 1st quarter worth approximately $68,000. 1620 Investment Advisors Inc. bought a new position in Regal Rexnord in the 2nd quarter valued at $52,000. Finally, GAMMA Investing LLC boosted its position in Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds 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.