Regal Rexnord Co. (NYSE:RRX – Get Free Report) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.35 per share on Friday, July 12th. This represents a $1.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, June 28th.
Regal Rexnord has raised its dividend by an average of 5.3% annually over the last three years. Regal Rexnord has a dividend payout ratio of 11.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.5 %
Shares of RRX traded up $0.79 on Wednesday, hitting $167.58. The company’s stock had a trading volume of 44,577 shares, compared to its average volume of 456,891. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average price is $169.57 and its 200-day moving average price is $144.34. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of -193.62, a P/E/G ratio of 1.63 and a beta of 1.14.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Oppenheimer increased their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Barclays increased their price target on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, KeyCorp increased their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.00.
Check Out Our Latest Stock Analysis on RRX
Insider Transactions at Regal Rexnord
In other news, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Insiders sold 5,570 shares of company stock worth $892,301 over the last ninety days. 0.82% of the stock is owned by insiders.
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.
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