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

Regal Rexnord Co. (NYSE:RRX) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, June 28th.

Regal Rexnord has raised its dividend by an average of 5.3% annually over the last three years. Regal Rexnord has a dividend payout ratio of 11.3% meaning 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 Performance

Regal Rexnord stock traded up $0.79 during midday trading on Wednesday, reaching $167.58. 44,577 shares of the stock traded hands, compared to its average volume of 456,891. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average price of $169.57 and a two-hundred day moving average price of $144.34. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of -193.62, a PEG ratio of 1.63 and a beta of 1.14. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last released its earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.26 by $0.02. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $2.64 earnings per share. The business’s quarterly revenue was up 29.2% on a year-over-year basis. On average, equities research analysts forecast that Regal Rexnord will post 10.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at $4,514,326.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total value of $461,785.28. Following the transaction, the executive vice president now directly owns 15,884 shares in the company, valued at $2,451,536.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas E. Valentyn sold 1,931 shares of the stock in a transaction dated Thursday, February 22nd. The stock was 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 in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RRX shares. Oppenheimer upped their price objective 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. KeyCorp upped their price objective on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Barclays increased their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.00.

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.