Rexnord Corp (RXN) General Counsel Patricia M. Whaley Sells 2,354 Shares

Rexnord Corp (NYSE:RXN) General Counsel Patricia M. Whaley sold 2,354 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $27.59, for a total transaction of $64,946.86. Following the transaction, the general counsel now owns 62,942 shares of the company’s stock, valued at $1,736,569.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:RXN traded up $0.11 during trading on Wednesday, hitting $27.88. 311,819 shares of the company were exchanged, compared to its average volume of 700,636. The company has a market capitalization of $2.88 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.56. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 2.87. Rexnord Corp has a 1-year low of $21.38 and a 1-year high of $32.11.

Rexnord (NYSE:RXN) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. The company had revenue of $537.50 million during the quarter, compared to the consensus estimate of $543.89 million. Rexnord had a net margin of 1.68% and a return on equity of 19.48%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities analysts forecast that Rexnord Corp will post 1.98 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in RXN. JPMorgan Chase & Co. increased its holdings in shares of Rexnord by 10.3% during the third quarter. JPMorgan Chase & Co. now owns 85,370 shares of the industrial products company’s stock worth $2,630,000 after buying an additional 7,996 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Rexnord by 11.1% during the third quarter. AQR Capital Management LLC now owns 24,824 shares of the industrial products company’s stock worth $765,000 after buying an additional 2,481 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Rexnord by 1.5% during the third quarter. Teachers Advisors LLC now owns 932,700 shares of the industrial products company’s stock worth $28,727,000 after buying an additional 14,078 shares in the last quarter. Morgan Stanley increased its holdings in shares of Rexnord by 42.1% during the third quarter. Morgan Stanley now owns 356,687 shares of the industrial products company’s stock worth $10,985,000 after buying an additional 105,598 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Rexnord by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,090,969 shares of the industrial products company’s stock worth $280,001,000 after buying an additional 141,884 shares in the last quarter.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Rexnord from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Oppenheimer upgraded shares of Rexnord to a “buy” rating and set a $35.00 price objective for the company in a research report on Monday, February 4th. Barclays restated a “hold” rating and set a $30.00 price objective on shares of Rexnord in a research report on Friday, February 1st. Finally, Robert W. Baird set a $29.00 price objective on shares of Rexnord and gave the company a “buy” rating in a research report on Friday, January 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.63.

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About Rexnord

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

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