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

Regal Rexnord Co. (NYSE:RRXGet Free Report) 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 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 31st.

Regal Rexnord has raised its dividend by an average of 2.8% annually over the last three years. Regal Rexnord has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. 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 Down 0.0 %

RRX opened at $160.83 on Thursday. Regal Rexnord has a fifty-two week low of $130.94 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.45. The company has a fifty day moving average of $162.85 and a two-hundred day moving average of $162.86. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 1.57 and a beta of 1.04.

Regal Rexnord (NYSE:RRXGet Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company earned $2.10 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts expect that Regal Rexnord will post 9.24 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. Citigroup dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays dropped their target price on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $202.00.

Check Out Our Latest Report on Regal Rexnord

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.

About Regal Rexnord

(Get Free Report)

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.

See Also

Dividend History for Regal Rexnord (NYSE:RRX)

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