EntryPoint Capital LLC Makes New $813,000 Investment in Regal Rexnord Co. (NYSE:RRX)

EntryPoint Capital LLC acquired a new stake in Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,240 shares of the company’s stock, valued at approximately $813,000. Regal Rexnord accounts for 0.3% of EntryPoint Capital LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in RRX. JPMorgan Chase & Co. lifted its stake in Regal Rexnord by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 436,307 shares of the company’s stock valued at $72,375,000 after buying an additional 28,278 shares during the period. Geode Capital Management LLC increased its stake in shares of Regal Rexnord by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,090 shares of the company’s stock valued at $183,195,000 after acquiring an additional 9,338 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Regal Rexnord during the 4th quarter valued at $811,000. PNC Financial Services Group Inc. boosted its stake in Regal Rexnord by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,311 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Regal Rexnord by 7.2% in the third quarter. Franklin Resources Inc. now owns 1,151,440 shares of the company’s stock worth $204,254,000 after purchasing an additional 77,215 shares during the period. Institutional investors own 99.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RRX. Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group raised 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, December 12th. Barclays decreased their price objective on Regal Rexnord from $176.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, March 10th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup decreased their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.75.

Regal Rexnord Price Performance

RRX opened at $124.38 on Tuesday. Regal Rexnord Co. has a 1 year low of $113.73 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 company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 1.37 and a beta of 1.11. The firm’s fifty day moving average price is $138.89 and its two-hundred day moving average price is $156.42.

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 the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.