Regal Rexnord Co. (RRX) To Go Ex-Dividend on March 31st

Regal Rexnord Co. (NYSE:RRX) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors 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 dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st.

Regal Rexnord has raised its dividend by an average of 2.8% per year over the last three years. Regal Rexnord has a dividend payout ratio of 11.6% indicating that 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 Down 0.0 %

Regal Rexnord stock opened at $160.83 on Thursday. Regal Rexnord has a 1-year low of $130.94 and a 1-year high of $185.28. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $162.85 and a 200 day simple moving average of $162.86.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 earnings per share. On average, analysts predict that Regal Rexnord will post 9.24 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CEO Louis V. Pinkham sold 8,774 shares of the 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 transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

Regal Rexnord Company Profile

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.