Franklin Resources Inc. Acquires 77,215 Shares of Regal Rexnord Co. (NYSE:RRX)

Franklin Resources Inc. raised its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 7.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,151,440 shares of the company's stock after acquiring an additional 77,215 shares during the period. Franklin Resources Inc. owned approximately 1.74% of Regal Rexnord worth $204,254,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in RRX. Headlands Technologies LLC purchased a new position in shares of Regal Rexnord during the second quarter valued at approximately $46,000. 1620 Investment Advisors Inc. bought a new stake in Regal Rexnord during the second quarter worth $52,000. UMB Bank n.a. lifted its holdings in Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after acquiring an additional 145 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after acquiring an additional 100 shares during the period. Finally, CWM LLC lifted its holdings in Regal Rexnord by 25.4% during the second quarter. CWM LLC now owns 825 shares of the company's stock worth $112,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Performance

Shares of NYSE:RRX traded down $2.56 during midday trading on Friday, reaching $168.88. 461,641 shares of the company traded hands, compared to its average volume of 424,476. 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 Co. has a 12 month low of $130.94 and a 12 month high of $185.28. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 53.27, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The firm's fifty day moving average price is $171.79 and its two-hundred day moving average price is $158.82.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $2.10 EPS. Regal Rexnord's quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities analysts expect that Regal Rexnord Co. will post 9.24 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently announced 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 annualized dividend 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%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RRX shares. Jefferies Financial Group started coverage on Regal Rexnord in a report on Thursday. They set a "buy" rating and a $215.00 price target on the stock. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Barclays boosted their target price on Regal Rexnord from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Loop Capital restated a "buy" rating and issued a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.13.

Insider Transactions at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 149,618 shares in the company, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company's stock.

Regal Rexnord Company Profile

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.