Harbor Capital Advisors Inc. Buys 3,014 Shares of Regal Rexnord Co. (NYSE:RRX)

Harbor Capital Advisors Inc. boosted its stake in Regal Rexnord Co. (NYSE:RRX - Free Report) by 12.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,786 shares of the company's stock after buying an additional 3,014 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Regal Rexnord were worth $3,050,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Regal Rexnord by 56.8% in the fourth quarter. JPMorgan Chase & Co. now owns 683,980 shares of the company's stock valued at $106,106,000 after purchasing an additional 247,673 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Regal Rexnord in the 4th quarter worth about $1,427,000. Atria Investments Inc increased its stake in Regal Rexnord by 48.9% in the 4th quarter. Atria Investments Inc now owns 2,310 shares of the company's stock valued at $358,000 after buying an additional 759 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Regal Rexnord by 16.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,844 shares of the company's stock worth $2,613,000 after buying an additional 2,414 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Regal Rexnord in the 4th quarter worth approximately $235,188,000. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $140.33, for a total transaction 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 $24,691,624.82. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird increased their price target on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. KeyCorp decreased their target price on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their target price on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup increased their price target on shares of Regal Rexnord from $110.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Barclays raised their price objective on shares of Regal Rexnord from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. One investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $171.25.

Regal Rexnord Stock Performance

NYSE:RRX traded down $2.24 on Thursday, reaching $141.63. 524,061 shares of the company's stock were exchanged, compared to its average volume of 579,558. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 48.01, a P/E/G ratio of 1.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.25. The stock has a fifty day simple moving average of $122.22 and a 200-day simple moving average of $137.05. Regal Rexnord Co. has a 52 week low of $90.56 and a 52 week high of $185.28.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.82 by $0.33. Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm earned $2.00 EPS. Regal Rexnord's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.40 annualized dividend and a yield of 0.99%. Regal Rexnord's dividend payout ratio is currently 39.89%.

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.