Rexnord Corp (NYSE:RXN) insider George J. Powers sold 88,344 shares of Rexnord stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.50, for a total value of $3,047,868.00. Following the completion of the sale, the insider now directly owns 108,244 shares of the company’s stock, valued at approximately $3,734,418. The transaction was disclosed in a document filed with the SEC, which is available at this link.
RXN stock opened at $35.47 on Friday. The company has a market cap of $4.30 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.04 and a beta of 1.60. Rexnord Corp has a 1 year low of $24.24 and a 1 year high of $35.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.79 and a quick ratio of 1.78. The stock’s fifty day moving average price is $33.12 and its 200-day moving average price is $29.78.
Rexnord (NYSE:RXN) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. The firm had revenue of $491.70 million for the quarter, compared to the consensus estimate of $487.32 million. Rexnord had a return on equity of 18.82% and a net margin of 9.66%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. As a group, analysts expect that Rexnord Corp will post 1.98 earnings per share for the current year.
A number of analysts have commented on the company. Deutsche Bank lifted their target price on Rexnord from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. ValuEngine upgraded Rexnord from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Bank of America upgraded Rexnord from an “underperform” rating to a “buy” rating in a research note on Tuesday, December 17th. KeyCorp raised their price target on Rexnord from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird upgraded Rexnord from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $42.00 in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.40.
Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in Rexnord by 36.9% during the fourth quarter. Advisor Group Inc. now owns 1,310 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 353 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Rexnord by 0.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,250 shares of the industrial products company’s stock valued at $4,578,000 after purchasing an additional 606 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Rexnord by 240.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 973 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 687 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Rexnord by 20.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,695 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 794 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Rexnord by 0.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 288,944 shares of the industrial products company’s stock valued at $9,425,000 after purchasing an additional 1,211 shares in the last quarter.
Rexnord Company Profile
Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.
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