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

Regal Rexnord Co. (NYSE:RRX - Get Free Report) announced 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 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date 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 payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 1.4 %

Shares of Regal Rexnord stock traded down $2.40 during trading on Wednesday, hitting $164.39. The company's stock had a trading volume of 377,784 shares, compared to its average volume of 461,495. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $183.85. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of -188.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The stock has a 50-day moving average price of $169.79 and a two-hundred day moving average price of $144.48.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping 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 company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. Regal Rexnord's revenue for the quarter was up 29.2% on a year-over-year basis. Equities research analysts anticipate that Regal Rexnord will post 10.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays upped their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, March 13th. Finally, KeyCorp upped 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 analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $197.00.

Insider Activity at Regal Rexnord

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the 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 completion of the sale, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is owned by corporate 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.