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

Franklin Resources Inc. increased its position in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) by 75.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 724,777 shares of the company’s stock after acquiring an additional 312,685 shares during the period. Franklin Resources Inc.’s holdings in Regal Rexnord were worth $86,959,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Regal Rexnord by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,622,190 shares of the company’s stock worth $929,490,000 after acquiring an additional 23,578 shares in the last quarter. Capital World Investors acquired a new position in Regal Rexnord during the 1st quarter worth about $793,975,000. Massachusetts Financial Services Co. MA lifted its stake in Regal Rexnord by 32.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,872,474 shares of the company’s stock worth $543,541,000 after acquiring an additional 951,511 shares in the last quarter. State Street Corp acquired a new position in Regal Rexnord during the 1st quarter worth about $266,837,000. Finally, Thrivent Financial for Lutherans lifted its stake in Regal Rexnord by 1.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,294,214 shares of the company’s stock worth $181,655,000 after acquiring an additional 15,982 shares in the last quarter. Institutional investors and hedge funds own 99.98% of the company’s stock.

Analyst Ratings Changes

RRX has been the topic of a number of analyst reports. StockNews.com initiated coverage on Regal Rexnord in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. KeyCorp increased their price target on Regal Rexnord from $172.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Barclays increased their price target on Regal Rexnord from $148.00 to $185.00 in a research report on Sunday, February 5th. Oppenheimer increased their price target on Regal Rexnord from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, Robert W. Baird reduced their price target on Regal Rexnord from $188.00 to $184.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.00.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $130.53 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.69 and a current ratio of 2.92. Regal Rexnord Co. has a fifty-two week low of $108.28 and a fifty-two week high of $162.89. The firm has a market capitalization of $8.65 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06. The stock’s 50-day simple moving average is $132.00 and its 200-day simple moving average is $134.72.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.07%. Regal Rexnord’s dividend payout ratio is presently 26.12%.

Regal Rexnord Company Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.