Franklin Resources Inc. Buys 269,008 Shares of Regal Rexnord Corporation $RRX

Franklin Resources Inc. increased its holdings in Regal Rexnord Corporation (NYSE:RRX) by 32.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,100,204 shares of the company’s stock after purchasing an additional 269,008 shares during the period. Franklin Resources Inc.’s holdings in Regal Rexnord were worth $154,381,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in RRX. AQR Capital Management LLC grew its stake in shares of Regal Rexnord by 208.1% during the 1st quarter. AQR Capital Management LLC now owns 17,747 shares of the company’s stock valued at $2,011,000 after purchasing an additional 11,987 shares during the period. Jones Financial Companies Lllp lifted its holdings in Regal Rexnord by 91.6% in the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company’s stock worth $70,000 after purchasing an additional 295 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Regal Rexnord by 135.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Regal Rexnord by 6.7% during the 2nd quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after acquiring an additional 196 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Regal Rexnord during the 2nd quarter worth approximately $4,759,000. 99.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the topic of several recent research reports. KeyCorp increased their price target on Regal Rexnord from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Citigroup increased their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company a “buy” rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $232.25.

Regal Rexnord Trading Down 6.0%

Shares of NYSE RRX opened at $200.42 on Thursday. Regal Rexnord Corporation has a twelve month low of $127.96 and a twelve month high of $236.35. The stock has a market capitalization of $13.34 billion, a PE ratio of 46.61, a PEG ratio of 2.01 and a beta of 1.11. The company has a current ratio of 2.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $204.39 and a 200-day simple moving average of $183.68.

Regal Rexnord (NYSE:RRX) last released its earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $2.15 EPS. Regal Rexnord’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Regal Rexnord Corporation will post 10.63 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Regal Rexnord’s payout ratio is 32.56%.

Insiders Place Their Bets

In other Regal Rexnord news, Director Robin A. Walker-Lee sold 1,297 shares of Regal Rexnord stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $213.85, for a total transaction of $277,363.45. Following the completion of the sale, the director directly owned 5,503 shares of the company’s stock, valued at $1,176,816.55. The trade was a 19.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Louis V. Pinkham sold 22,509 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $211.68, for a total value of $4,764,705.12. Following the completion of the sale, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. The trade was a 28.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,305 shares of company stock valued at $6,341,869 in the last ninety days. Insiders own 0.63% of the company’s stock.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.