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

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.35 per share on Monday, April 14th. This represents a $1.40 annualized dividend and a dividend 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 payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of RRX opened at $160.90 on Wednesday. The stock has a 50 day moving average of $163.06 and a 200 day moving average of $162.88. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 1.57 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. As a group, sell-side analysts forecast that Regal Rexnord will post 9.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RRX shares. Barclays lowered 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 assumed coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Buying and Selling

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

About Regal Rexnord

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.