Regal Rexnord Co. (NYSE:RRX) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its position in Regal Rexnord Co. (NYSE:RRX) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,772 shares of the company’s stock after buying an additional 814 shares during the period. Harbor Capital Advisors Inc.’s holdings in Regal Rexnord were worth $3,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in Regal Rexnord in the 2nd quarter valued at $46,000. UMB Bank n.a. grew its position in shares of Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock valued at $57,000 after purchasing an additional 145 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in 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 period. 1620 Investment Advisors Inc. boosted its stake in Regal Rexnord by 17.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after buying an additional 67 shares during the last quarter. Finally, Quarry LP grew its holdings in Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock valued at $118,000 after buying an additional 768 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RRX shares. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price on the stock. Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com raised Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Robert W. Baird lowered their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $203.25.

Regal Rexnord Price Performance

Shares of NYSE RRX opened at $149.36 on Friday. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 47.12, a PEG ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.45 and a quick ratio of 1.35. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The business has a 50-day moving average of $166.70 and a 200-day moving average of $160.52.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. Regal Rexnord’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS. On average, equities analysts anticipate that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Insiders Place Their Bets

In other Regal Rexnord news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total value of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

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.