1 week Ago By ABMN Staff
Regal Rexnord ( NYSE:RRX – Free Report ) had its price target lowered by Citigroup from $170.00 to $110.00 in a research note issued to investors on Tuesday, Benzinga reports.
The brokerage currently has a buy rating on the stock. Several other brokerages also recently weighed in on RRX. Barclays dropped their price objective on Regal Rexnord from $160.
00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group dropped 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. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th.
They set a “buy” rating and a $215.00 price objective for the company. KeyCorp cut their target price on shares of Regal Rexnord from $180.
00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, StockNews.
com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.
com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average price target of $170.75. Read Our Latest Report on Regal Rexnord Regal Rexnord Trading Down 2.
1 % Regal Rexnord ( NYSE:RRX – Get Free Report ) last issued 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%. Analysts predict that Regal Rexnord will post 9.
95 EPS for the current fiscal year. Regal Rexnord Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders 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 yield of 1.
49%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s payout ratio is presently 47.
46%. Institutional Investors Weigh In On Regal Rexnord Several institutional investors and hedge funds have recently made changes to their positions in RRX. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Regal Rexnord by 472.
4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 137 shares during the period. Bernard Wealth Management Corp.
acquired a new position in shares of Regal Rexnord in the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Regal Rexnord in the 4th quarter worth approximately $33,000. Tobam bought a new stake in shares of Regal Rexnord in the 4th quarter valued at $45,000.
Finally, Jones Financial Companies Lllp increased its position in shares of Regal Rexnord by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after buying an additional 153 shares during the period.
Institutional investors and hedge funds own 99.72% of the company’s stock. About Regal Rexnord ( Get Free Report ) 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. Read More Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter .
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