Regal Rexnord Co. (RRX) to Issue Quarterly Dividend of $0.35 on July 12th

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

Regal Rexnord has increased its dividend by an average of 5.3% per year over the last three years. Regal Rexnord has a 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 Stock Down 1.5 %

RRX traded down $2.58 during trading on Wednesday, hitting $164.21. 128,461 shares of the company’s stock were exchanged, compared to its average volume of 458,205. 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 50 day moving average is $169.57 and its two-hundred day moving average is $144.34. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The stock has a market cap of $10.91 billion, a P/E ratio of -193.62, a PEG ratio of 1.63 and a beta of 1.14.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating 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 negative net margin of 0.92% and a positive return on equity of 9.58%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.64 earnings per share. As a group, equities analysts expect that Regal Rexnord will post 10.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RRX. Oppenheimer increased their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Barclays raised their target price 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. Finally, KeyCorp increased their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $197.00.

Insider Activity at Regal Rexnord

In related news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the transaction, the executive vice president now owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the transaction, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.