Barclays Cuts Regal Rexnord (NYSE:RRX) Price Target to $161.00

Regal Rexnord (NYSE:RRX) had its target price lowered by Barclays from $163.00 to $161.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on RRX. KeyCorp set a $180.00 price objective on shares of Regal Rexnord and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Wall Street Zen raised shares of Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. Citigroup reissued a “buy” rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a research note on Tuesday, June 24th. JPMorgan Chase & Co. assumed coverage on shares of Regal Rexnord in a research report on Monday. They set an “overweight” rating and a $200.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $181.63.

Regal Rexnord Stock Up 3.0%

Shares of NYSE RRX opened at $144.54 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93. The company has a market cap of $9.59 billion, a P/E ratio of 38.44, a PEG ratio of 1.41 and a beta of 1.18. Regal Rexnord has a 1 year low of $90.56 and a 1 year high of $185.28. The firm has a 50-day simple moving average of $147.69 and a two-hundred day simple moving average of $133.42.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. Research analysts anticipate that Regal Rexnord will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Regal Rexnord’s dividend payout ratio (DPR) is presently 37.23%.

Hedge Funds Weigh In On Regal Rexnord

Institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in Regal Rexnord during the fourth quarter valued at approximately $1,427,000. Avantax Advisory Services Inc. increased its holdings in Regal Rexnord by 19.7% during the first quarter. Avantax Advisory Services Inc. now owns 3,152 shares of the company’s stock valued at $359,000 after buying an additional 519 shares during the period. Intech Investment Management LLC increased its holdings in Regal Rexnord by 0.5% during the first quarter. Intech Investment Management LLC now owns 25,490 shares of the company’s stock valued at $2,902,000 after buying an additional 120 shares during the period. United Services Automobile Association purchased a new position in Regal Rexnord during the first quarter valued at approximately $507,000. Finally, Advisors Asset Management Inc. purchased a new position in Regal Rexnord during the first quarter valued at approximately $185,000. 99.72% of the stock is owned by hedge funds and other 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.