Harbor Capital Advisors Inc. Acquires 14,280 Shares of Regal Rexnord Co. (NYSE:RRX)

Harbor Capital Advisors Inc. lifted its holdings in shares of Regal Rexnord Co. (NYSE:RRX) by 164.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 22,958 shares of the company’s stock after purchasing an additional 14,280 shares during the period. Harbor Capital Advisors Inc.’s holdings in Regal Rexnord were worth $3,808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hengehold Capital Management LLC increased its holdings in Regal Rexnord by 1.5% during the 3rd quarter. Hengehold Capital Management LLC now owns 4,315 shares of the company’s stock worth $716,000 after purchasing an additional 65 shares in the last quarter. 1620 Investment Advisors Inc. grew its holdings in Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after buying an additional 67 shares in the last quarter. GAMMA Investing LLC raised its position in Regal Rexnord by 13.9% in the 2nd quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after buying an additional 79 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Regal Rexnord by 2.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after acquiring an additional 95 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Regal Rexnord by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RRX shares. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays increased their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, KeyCorp cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and a consensus price target of $193.63.

Regal Rexnord Stock Performance

Shares of RRX opened at $169.02 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The firm has a market cap of $11.25 billion, a PE ratio of -8,451.00, a PEG ratio of 1.76 and a beta of 1.04. Regal Rexnord Co. has a 1 year low of $97.18 and a 1 year high of $183.85. The stock’s fifty day moving average price is $165.12 and its two-hundred day moving average price is $156.03.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.83%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently -7,000.00%.

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.