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

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Monday, April 28th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.35 per share on Monday, July 14th. This represents a $1.40 annualized dividend and a yield of 1.31%. The ex-dividend date is Monday, June 30th.

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 12.4% indicating that 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 Price Performance

NYSE:RRX opened at $107.00 on Wednesday. The firm’s fifty day moving average price is $113.51 and its two-hundred day moving average price is $145.40. 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 market cap of $7.09 billion, a P/E ratio of 36.27, a P/E/G ratio of 1.37 and a beta of 1.09. Regal Rexnord has a one year low of $90.56 and a one year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (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%. Equities analysts expect that Regal Rexnord will post 9.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RRX. Oppenheimer dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price target on Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays lowered their price objective on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. KeyCorp dropped their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup reduced their target price on shares of Regal Rexnord from $170.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $170.75.

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.