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

Regal Rexnord Co. (NYSE:RRX) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.35 per share on Monday, April 14th. This represents a $1.40 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st.

Regal Rexnord has increased its dividend by an average of 2.8% per year over the last three years. Regal Rexnord has a dividend payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Regal Rexnord to earn $10.35 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 13.5%.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock traded down $2.02 during trading on Tuesday, reaching $160.90. 339,865 shares of the stock traded hands, compared to its average volume of 445,003. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 50.76, a P/E/G ratio of 1.57 and a beta of 1.04. Regal Rexnord has a 52-week low of $130.94 and a 52-week high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The business has a fifty day simple moving average of $163.28 and a two-hundred day simple moving average of $162.77.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts expect that Regal Rexnord will post 9.24 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on RRX shares. StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays cut their price target on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. Finally, Citigroup decreased their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is 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.