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

Harbor Capital Advisors Inc. increased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,786 shares of the company’s stock after purchasing an additional 3,014 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Regal Rexnord were worth $3,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRX. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Regal Rexnord by 472.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 137 shares during the period. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord in the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord in the fourth quarter worth approximately $33,000. Jones Financial Companies Lllp grew its holdings in Regal Rexnord by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company’s stock worth $50,000 after acquiring an additional 153 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Regal Rexnord by 45.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock worth $52,000 after acquiring an additional 105 shares in the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regal Rexnord news, CEO Louis V. Pinkham sold 10,593 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total value of $1,486,515.69. Following the completion of the transaction, the chief executive officer now directly owns 175,954 shares in the company, valued at approximately $24,691,624.82. The trade was a 5.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by company insiders.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $144.00 on Thursday. Regal Rexnord Co. has a one year low of $90.56 and a one year high of $185.28. The stock has a market cap of $9.55 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The business’s fifty day moving average price is $121.30 and its two-hundred day moving average price is $137.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.33. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. On average, analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Monday, June 30th. Regal Rexnord’s dividend payout ratio is presently 39.89%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RRX. KeyCorp reduced their price objective on shares of Regal Rexnord from $180.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded Regal Rexnord from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Barclays upped their price objective on Regal Rexnord from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Robert W. Baird increased their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, Citigroup boosted their target price on Regal Rexnord from $110.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $171.25.

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.