EntryPoint Capital LLC Buys New Position in Regal Rexnord Co. (NYSE:RRX)

EntryPoint Capital LLC bought a new position in Regal Rexnord Co. (NYSE:RRX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,240 shares of the company's stock, valued at approximately $813,000. Regal Rexnord makes up approximately 0.3% of EntryPoint Capital LLC's portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRX. iA Global Asset Management Inc. increased its stake in shares of Regal Rexnord by 2.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company's stock worth $436,000 after acquiring an additional 68 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Regal Rexnord by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,111 shares of the company's stock valued at $190,000 after acquiring an additional 77 shares in the last quarter. Moors & Cabot Inc. lifted its position in Regal Rexnord by 4.1% in the 4th quarter. Moors & Cabot Inc. now owns 2,139 shares of the company's stock valued at $332,000 after acquiring an additional 85 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock worth $71,000 after purchasing an additional 100 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock worth $320,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

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Regal Rexnord Trading Down 2.9 %

RRX stock traded down $3.52 during midday trading on Friday, hitting $117.27. 300,673 shares of the company's stock were exchanged, compared to its average volume of 621,618. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $136.83 and a two-hundred day simple moving average of $155.77. Regal Rexnord Co. has a 1-year low of $113.73 and a 1-year high of $185.28. The stock has a market capitalization of $7.77 billion, a PE ratio of 39.74, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted 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 net margin of 3.25% and a return on equity of 9.57%. On average, sell-side analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.35 dividend. 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 1.19%. Regal Rexnord's payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RRX. Citigroup lowered their price target on Regal Rexnord from $210.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. StockNews.com cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.13.

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.