Regal Rexnord Corporation Announces Quarterly Dividend of $0.35 (NYSE:RRX)

Regal Rexnord Corporation (NYSE:RRX) announced a quarterly dividend on Monday, July 20th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.35 per share on Wednesday, October 14th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

Regal Rexnord has raised its dividend payment by an average of 0.0%annually over the last three years. Regal Rexnord has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regal Rexnord to earn $13.49 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 10.4%.

Regal Rexnord Stock Performance

RRX stock opened at $213.27 on Wednesday. The business has a 50 day moving average of $211.72 and a 200-day moving average of $198.61. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69. Regal Rexnord has a 12-month low of $127.96 and a 12-month high of $247.80. The firm has a market cap of $14.20 billion, a PE ratio of 49.60, a P/E/G ratio of 1.93 and a beta of 1.08.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $2.15 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Regal Rexnord will post 10.64 earnings per share for the current year.

Insiders Place Their Bets

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the transaction, the director owned 5,503 shares of the company’s stock, valued at $1,176,816.55. This represents a 19.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $1,299,800.00. Following the completion of the sale, the chief financial officer owned 27,965 shares in the company, valued at approximately $5,593,000. This represents a 18.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock valued at $6,341,869 in the last quarter. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its stake in shares of Regal Rexnord by 8.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 18,914 shares of the company’s stock valued at $4,505,000 after purchasing an additional 1,400 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Regal Rexnord in the 2nd quarter worth approximately $43,000. GAMMA Investing LLC increased its position in Regal Rexnord by 6.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,380 shares of the company’s stock valued at $567,000 after buying an additional 142 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Regal Rexnord by 27.0% in the second quarter. Avior Wealth Management LLC now owns 2,150 shares of the company’s stock worth $512,000 after acquiring an additional 457 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in Regal Rexnord by 9.8% in the 2nd quarter. Central Pacific Bank Trust Division now owns 3,695 shares of the company’s stock worth $880,000 after purchasing an additional 330 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.