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

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 given 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 payment 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 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 Stock Performance

RRX traded down $2.02 during trading on Tuesday, reaching $160.90. 339,865 shares of the company were exchanged, compared to its average volume of 445,003. Regal Rexnord has a 52 week low of $130.94 and a 52 week high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average of $163.28 and a 200 day moving average of $162.77. The stock has a market cap of $10.66 billion, a P/E ratio of 50.76, a PEG ratio of 1.57 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.