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

Regal Rexnord Co. (NYSE:RRX) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.35 per share on Tuesday, January 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, December 31st.

Regal Rexnord has raised its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 19 consecutive years. Regal Rexnord has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Regal Rexnord to earn $10.40 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 Price Performance

Shares of NYSE:RRX opened at $156.50 on Friday. Regal Rexnord has a one year low of $130.94 and a one year high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. The company’s fifty day moving average price is $169.11 and its 200-day moving average price is $159.77. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.83 and a beta of 1.03.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 EPS. On average, equities research analysts anticipate that Regal Rexnord will post 9.24 earnings per share for the current fiscal year.

Insider Activity at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays raised their target price on shares of Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group increased their price target on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird decreased their price target on 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 issued a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $205.13.

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.