Regal Rexnord Corporation Announces Quarterly Dividend of $0.35 (NYSE:RRX)

Key Points

• Regal Rexnord Corporation announced a quarterly dividend of $0.35 per share, payable on January 14th, with an ex-dividend date of December 31st, representing a yield of 1.0%.
• The company's dividend payout ratio is 12.6%, indicating strong earnings coverage for the dividend, with projected earnings of $11.69 per share for next year.
• Shares of Regal Rexnord were trading at $141.34, with a market capitalization of $9.38 billion and a 52-week trading range between $90.56 and $185.28.

Regal Rexnord Corporation (NYSE:RRX - Get Free Report) announced a quarterly dividend on Wednesday, October 22nd. Investors of record on Wednesday, December 31st will be paid a dividend of 0.35 per share on Wednesday, January 14th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st.

Regal Rexnord has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Regal Rexnord to earn $11.69 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

Shares of RRX stock opened at $141.34 on Thursday. The stock has a fifty day moving average of $145.01 and a 200 day moving average of $137.61. Regal Rexnord has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 1.48 and a beta of 1.16. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings results on Friday, September 8th. The company reported $2.76 EPS for the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The company had revenue of $1.85 billion during the quarter. As a group, research analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Hedge Funds Weigh In On Regal Rexnord

Several large investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. increased its holdings in Regal Rexnord by 8.6% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company's stock worth $135,000 after buying an additional 75 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Regal Rexnord by 35.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 299 shares of the company's stock worth $43,000 after buying an additional 78 shares in the last quarter. Allworth Financial LP increased its holdings in Regal Rexnord by 85.7% in the 2nd quarter. Allworth Financial LP now owns 195 shares of the company's stock worth $28,000 after buying an additional 90 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in Regal Rexnord by 95.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 199 shares of the company's stock worth $29,000 after buying an additional 97 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Regal Rexnord by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock valued at $1,543,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

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.

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