Regal Rexnord Co. (NYSE:RRX) Position Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in Regal Rexnord Co. (NYSE:RRX - Free Report) by 164.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,958 shares of the company's stock after purchasing an additional 14,280 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Regal Rexnord were worth $3,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RRX. Headlands Technologies LLC acquired a new position in shares of Regal Rexnord in the second quarter valued at approximately $46,000. 1620 Investment Advisors Inc. purchased a new position in shares of Regal Rexnord during the 2nd quarter worth $52,000. UMB Bank n.a. boosted its holdings in shares of Regal Rexnord by 72.5% during the third quarter. UMB Bank n.a. now owns 345 shares of the company's stock worth $57,000 after purchasing an additional 145 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Regal Rexnord in the first quarter valued at $68,000. Finally, GAMMA Investing LLC increased its stake in Regal Rexnord by 13.9% in the second quarter. GAMMA Investing LLC now owns 647 shares of the company's stock valued at $87,000 after purchasing an additional 79 shares during the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Up 0.7 %

NYSE RRX traded up $1.20 on Monday, reaching $170.22. The company had a trading volume of 549,695 shares, compared to its average volume of 446,709. The firm has a market capitalization of $11.33 billion, a PE ratio of -8,577.50, a P/E/G ratio of 1.76 and a beta of 1.04. The firm has a 50-day moving average of $165.12 and a 200-day moving average of $156.03. Regal Rexnord Co. has a 1 year low of $100.00 and a 1 year high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord's dividend payout ratio (DPR) is -7,000.00%.

Analysts Set New Price Targets

RRX has been the subject of a number of research analyst reports. Citigroup started coverage on shares of Regal Rexnord in a research note on Monday, October 14th. They set a "buy" rating and a $200.00 price objective for the company. Robert W. Baird lifted their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Barclays upped their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Finally, KeyCorp decreased their target price on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $193.63.

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.