Entropy Technologies LP Acquires 4,990 Shares of Regal Rexnord Corporation $RRX

Entropy Technologies LP grew its stake in Regal Rexnord Corporation (NYSE:RRX) by 172.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,890 shares of the company’s stock after buying an additional 4,990 shares during the quarter. Entropy Technologies LP’s holdings in Regal Rexnord were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RRX. Victory Capital Management Inc. raised its holdings in Regal Rexnord by 42.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,658,365 shares of the company’s stock valued at $793,983,000 after acquiring an additional 1,690,264 shares during the period. Bank of New York Mellon Corp grew its stake in Regal Rexnord by 115.5% during the first quarter. Bank of New York Mellon Corp now owns 1,836,264 shares of the company’s stock valued at $343,859,000 after acquiring an additional 984,185 shares in the last quarter. Bessemer Group Inc. increased its holdings in Regal Rexnord by 4,155.4% in the 1st quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock valued at $171,541,000 after acquiring an additional 894,527 shares during the last quarter. Norges Bank bought a new stake in Regal Rexnord in the 4th quarter valued at $121,301,000. Finally, Viking Global Investors LP lifted its position in shares of Regal Rexnord by 25.7% in the second quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after buying an additional 701,145 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Louis V. Pinkham sold 22,509 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 56,749 shares of the company’s stock, valued at $12,012,628.32. This trade represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Rehard sold 6,499 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,299,800.00. Following the completion of the transaction, the chief financial officer directly owned 27,965 shares of the company’s stock, valued at approximately $5,593,000. This represents a 18.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,305 shares of company stock worth $6,341,869 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.

Regal Rexnord Stock Down 0.7%

Shares of NYSE RRX opened at $211.31 on Tuesday. The stock’s fifty day simple moving average is $212.80 and its two-hundred day simple moving average is $200.44. Regal Rexnord Corporation has a 12-month low of $127.96 and a 12-month high of $247.80. 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 market capitalization of $14.07 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Regal Rexnord had a net margin of 4.78% and a return on equity of 9.49%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.15 earnings per share. As a group, analysts expect that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Regal Rexnord’s dividend payout ratio is currently 32.56%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RRX. Citigroup upped their price target on shares of Regal Rexnord from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Oppenheimer restated an “outperform” rating on shares of Regal Rexnord in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Regal Rexnord in a report on Monday, July 20th. They set a “buy” rating and a $286.00 price objective for the company. DA Davidson started coverage on shares of Regal Rexnord in a research report on Tuesday, June 16th. They issued a “buy” rating and a $260.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $247.00.

Regal Rexnord Profile

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.