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

Harbor Capital Advisors Inc. increased its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 12.7% during the first quarter, according to the company in its most recent 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 period. Harbor Capital Advisors Inc.'s holdings in Regal Rexnord were worth $3,050,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc grew its holdings in shares of Regal Rexnord by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,061 shares of the company's stock valued at $320,000 after purchasing an additional 101 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in Regal Rexnord by 35.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 884,095 shares of the company's stock valued at $137,150,000 after acquiring an additional 232,509 shares during the period. Handelsbanken Fonder AB increased its position in shares of Regal Rexnord by 22.4% in the fourth quarter. Handelsbanken Fonder AB now owns 19,114 shares of the company's stock valued at $2,965,000 after buying an additional 3,500 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its position in shares of Regal Rexnord by 50.3% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,790 shares of the company's stock worth $743,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in Regal Rexnord by 6.3% in the 4th quarter. Wealthspire Advisors LLC now owns 2,443 shares of the company's stock valued at $379,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Insider Activity

In other news, CEO Louis V. Pinkham sold 10,593 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $140.33, for a total transaction of $1,486,515.69. Following 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RRX shares. Citigroup raised their target price on Regal Rexnord from $110.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen raised Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. KeyCorp reduced their price objective on Regal Rexnord from $180.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird upped their price objective on Regal Rexnord from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their price target on Regal Rexnord from $183.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $171.25.

Regal Rexnord Stock Down 2.9%

Shares of RRX traded down $4.05 on Friday, reaching $137.62. The stock had a trading volume of 562,231 shares, compared to its average volume of 580,865. The company has a 50-day simple moving average of $123.09 and a 200-day simple moving average of $136.35. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. Regal Rexnord Co. has a 12-month low of $90.56 and a 12-month high of $185.28. 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 - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.33. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 earnings per share. Sell-side analysts predict that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. Regal Rexnord's payout ratio is currently 39.89%.

Regal Rexnord Company 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.