Regal Rexnord (NYSE:RRX) Sets New 1-Year Low – What’s Next?

Regal Rexnord Co. (NYSE:RRX)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $90.56 and last traded at $91.72, with a volume of 31748 shares trading hands. The stock had previously closed at $98.85.

Wall Street Analysts Forecast Growth

RRX has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target for the company. The Goldman Sachs Group reduced their target price on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Barclays cut 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 report on Wednesday, March 26th. Finally, Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $188.88.

Regal Rexnord Price Performance

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 business has a fifty day moving average of $130.83 and a 200 day moving average of $154.00. The firm has a market cap of $6.24 billion, a P/E ratio of 31.85, a PEG ratio of 1.37 and a beta of 1.09.

Regal Rexnord (NYSE:RRX) last posted its 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%. On average, sell-side analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, March 31st. Regal Rexnord’s payout ratio is 47.46%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in shares of Regal Rexnord by 20.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,176,963 shares of the company’s stock valued at $337,712,000 after purchasing an additional 363,728 shares during the last quarter. State Street Corp grew its holdings in Regal Rexnord by 1.3% in the 3rd quarter. State Street Corp now owns 1,972,866 shares of the company’s stock valued at $327,944,000 after buying an additional 24,860 shares in the last quarter. Norges Bank bought a new position in Regal Rexnord during the 4th quarter worth $235,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Regal Rexnord by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,332,621 shares of the company’s stock worth $206,729,000 after buying an additional 42,704 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock valued at $204,254,000 after acquiring an additional 77,215 shares during the period. 99.72% of the stock is 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.