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

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 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, June 28th.

Regal Rexnord has increased its dividend by an average of 5.3% annually over the last three years. Regal Rexnord has a payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Research 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 1.9 %

RRX traded down $3.15 on Wednesday, hitting $163.64. The company had a trading volume of 88,092 shares, compared to its average volume of 457,653. The company has a market cap of $10.87 billion, a PE ratio of -193.62, a PEG ratio of 1.63 and a beta of 1.14. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The business’s fifty day simple moving average is $169.57 and its 200 day simple moving average is $144.34.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.26 by $0.02. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates 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 was up 29.2% on a year-over-year basis. During the same quarter last year, the business posted $2.64 earnings per share. Equities research analysts expect that Regal Rexnord will post 10.05 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the firm’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 sale, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock valued at $892,301 over the last quarter. 0.82% of the stock is currently owned by company 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.