Regal Rexnord Co. (NYSE:RRX) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in Regal Rexnord Co. (NYSE:RRX) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,151,440 shares of the company’s stock after buying an additional 77,215 shares during the quarter. Franklin Resources Inc. owned approximately 1.74% of Regal Rexnord worth $204,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord in the 2nd quarter valued at about $46,000. UMB Bank n.a. lifted its position in shares of Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after buying an additional 145 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at $52,000. Nomura Asset Management Co. Ltd. raised its stake in Regal Rexnord by 30.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after acquiring an additional 100 shares in the last quarter. Finally, CWM LLC raised its stake in Regal Rexnord by 25.4% during the 2nd quarter. CWM LLC now owns 825 shares of the company’s stock worth $112,000 after acquiring an additional 167 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on RRX. Barclays raised their price objective on Regal Rexnord from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research report on Thursday. They issued a “buy” rating and a $215.00 price target for the company. Finally, Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Regal Rexnord Trading Down 1.5 %

NYSE RRX opened at $168.88 on Friday. Regal Rexnord Co. has a 52-week low of $130.94 and a 52-week high of $185.28. The firm has a 50-day moving average price of $171.79 and a 200 day moving average price of $158.71. The stock has a market capitalization of $11.18 billion, a P/E ratio of 53.27, a P/E/G ratio of 1.84 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data 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. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. Regal Rexnord’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts expect that Regal Rexnord Co. will post 9.25 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is currently 44.16%.

Insider Activity

In related news, CEO Louis V. Pinkham sold 8,774 shares of Regal Rexnord stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the sale, the chief executive officer now owns 149,618 shares in the company, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

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.