Regal Rexnord Co. (RRX) to Issue Quarterly Dividend of $0.35 on April 14th

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Monday, January 27th, 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 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st.

Regal Rexnord has raised its dividend by an average of 2.8% annually over the last three years. Regal Rexnord has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 2.3 %

NYSE RRX opened at $118.03 on Friday. The company has a market cap of $7.82 billion, a P/E ratio of 40.01, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord has a 12 month low of $113.73 and a 12 month high of $185.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The company has a 50-day moving average of $136.06 and a 200-day moving average of $155.56.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, equities analysts predict that Regal Rexnord will post 9.95 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Citigroup dropped their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Oppenheimer cut their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays cut their price objective on Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $195.13.

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.