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

Regal Rexnord Co. (NYSE:RRX - Get Free Report) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders 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 dividend yield of 0.88%. The ex-dividend date is Monday, March 31st.

Regal Rexnord has increased its dividend by an average of 2.8% annually over the last three years. Regal Rexnord has a dividend 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

Shares of Regal Rexnord stock traded down $4.78 during trading on Friday, hitting $158.28. 617,654 shares of the company's stock traded hands, compared to its average volume of 440,559. Regal Rexnord has a 1 year low of $130.94 and a 1 year high of $185.28. The business has a 50-day simple moving average of $162.64 and a 200-day simple moving average of $162.86. The stock has a market capitalization of $10.48 billion, a P/E ratio of 49.97, a PEG ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted $2.10 EPS. The company's revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that Regal Rexnord will post 9.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on RRX shares. Citigroup cut their target price on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a "buy" rating and a $215.00 price target on the stock. Barclays lowered their price target on shares of Regal Rexnord from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $202.00.

Insiders Place Their Bets

In related 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 transaction of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% 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.