Franklin Resources Inc. Reduces Position in Regal Rexnord Co. (NYSE:RRX)

Franklin Resources Inc. lowered its position in Regal Rexnord Co. (NYSE:RRX) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,065,511 shares of the company’s stock after selling 85,929 shares during the quarter. Franklin Resources Inc. owned approximately 1.61% of Regal Rexnord worth $165,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its position in Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Tobam acquired a new position in Regal Rexnord in the fourth quarter valued at $45,000. Jones Financial Companies Lllp raised its holdings in shares of Regal Rexnord by 90.5% in the fourth quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock valued at $50,000 after buying an additional 153 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Regal Rexnord by 45.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after buying an additional 105 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of 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 buying an additional 100 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Trading Up 6.2 %

Shares of RRX opened at $121.80 on Thursday. Regal Rexnord Co. has a 1-year low of $111.15 and a 1-year high of $185.28. 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 firm has a 50 day simple moving average of $133.45 and a 200-day simple moving average of $154.90. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.15%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Analyst Ratings Changes

A number of research firms have weighed in on RRX. Oppenheimer decreased their price objective on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Monday. Barclays lowered their target price on shares of Regal Rexnord from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $183.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on Regal Rexnord in a report on Thursday, December 12th. They issued a “buy” rating and a $215.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $188.88.

Regal Rexnord 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.