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

Regal Rexnord Co. (NYSE:RRXGet Free Report) declared a quarterly dividend on Monday, January 29th, Wall Street Journal reports. Shareholders of record on Thursday, March 28th will be given a dividend of 0.35 per share on Friday, April 12th. This represents a $1.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, March 27th.

Regal Rexnord has a dividend payout ratio of 11.3% meaning 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 Price Performance

RRX opened at $181.21 on Monday. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The company’s 50-day moving average price is $156.42 and its two-hundred day moving average price is $140.84.

Regal Rexnord (NYSE:RRXGet Free Report) last released its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.64 earnings per share. As a group, equities analysts predict that Regal Rexnord will post 10.05 EPS for the current year.

Analysts Set New Price Targets

RRX has been the topic of a number of recent research reports. 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 note on Wednesday, March 13th. Wolfe Research upgraded shares of Regal Rexnord from a “peer perform” rating to an “outperform” rating and set a $151.00 price target on the stock in a research note on Monday, December 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.00.

Get Our Latest Analysis on Regal Rexnord

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were 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 in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. Insiders sold a total of 5,570 shares of company stock valued at $892,301 in the last three months. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently added to or reduced their stakes in RRX. Garner Asset Management Corp purchased a new position in Regal Rexnord in the 4th quarter worth $28,000. Belpointe Asset Management LLC increased its position in shares of Regal Rexnord by 139.1% in the first quarter. Belpointe Asset Management LLC now owns 208 shares of the company’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Regal Rexnord in the first quarter valued at about $42,000. ICA Group Wealth Management LLC purchased a new position in shares of Regal Rexnord in the fourth quarter valued at about $57,000. Finally, Amundi increased its position in shares of Regal Rexnord by 1,060.4% in the fourth quarter. Amundi now owns 615 shares of the company’s stock valued at $77,000 after acquiring an additional 562 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Company Profile

(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.

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Dividend History for Regal Rexnord (NYSE:RRX)

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