Regal Rexnord Co. (NYSE:RRX) Stock Holdings Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in shares of Regal Rexnord Co. (NYSE:RRX) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,772 shares of the company’s stock after buying an additional 814 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Regal Rexnord were worth $3,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RRX. Headlands Technologies LLC bought a new position in shares of Regal Rexnord in the 2nd quarter worth about $46,000. UMB Bank n.a. lifted its holdings in Regal Rexnord by 72.5% in the third quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in shares of Regal Rexnord by 17.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after purchasing an additional 67 shares during the period. Finally, Quarry LP lifted its holdings in shares of Regal Rexnord by 752.9% in the 2nd quarter. Quarry LP now owns 870 shares of the company’s stock worth $118,000 after purchasing an additional 768 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

RRX opened at $149.36 on Friday. Regal Rexnord Co. has a 1-year low of $130.94 and a 1-year high of $185.28. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The business has a 50 day moving average price of $166.70 and a two-hundred day moving average price of $160.52. 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 (NYSE:RRX) last announced its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted $2.10 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Research analysts predict that Regal Rexnord Co. will post 9.24 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.94%. Regal Rexnord’s payout ratio is currently 44.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RRX shares. The Goldman Sachs Group boosted their price target on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group assumed 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 for the company. Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price target on the stock. Loop Capital reissued a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Barclays cut their target price on Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $203.25.

Insider Activity at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

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.