Regal Rexnord Co. (NYSE:RRX) Declares Quarterly Dividend of $0.35

Regal Rexnord Co. (NYSE:RRX) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.35 per share on Friday, July 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, June 28th.

Regal Rexnord has increased its dividend payment by an average of 5.3% per year over the last three years. Regal Rexnord has a dividend payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regal Rexnord to earn $11.65 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.0%.

Regal Rexnord Trading Down 1.5 %

Regal Rexnord stock traded down $2.58 during midday trading on Wednesday, reaching $164.21. The stock had a trading volume of 128,461 shares, compared to its average volume of 458,205. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The stock has a market capitalization of $10.91 billion, a PE ratio of -193.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The stock’s 50-day simple moving average is $169.57 and its 200 day simple moving average is $144.34.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.64 earnings per share. Analysts expect that Regal Rexnord will post 10.05 EPS for the current year.

Analyst Upgrades and Downgrades

RRX has been the topic of a number of recent research reports. Barclays boosted their price objective on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Oppenheimer boosted their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp boosted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $197.00.

Insider Activity

In other news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by insiders.

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.