Michael Troutman Sells 11,845 Shares of Rexnord Corp (NYSE:RXN) Stock

Rexnord Corp (NYSE:RXN) insider Michael Troutman sold 11,845 shares of Rexnord stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $29.51, for a total transaction of $349,545.95. Following the completion of the transaction, the insider now directly owns 46,525 shares of the company’s stock, valued at $1,372,952.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of NYSE:RXN opened at $28.78 on Wednesday. Rexnord Corp has a 52 week low of $21.38 and a 52 week high of $32.11. The stock has a market cap of $3.08 billion, a PE ratio of 15.56, a P/E/G ratio of 1.64 and a beta of 1.54. The business has a fifty day simple moving average of $27.95. The company has a quick ratio of 1.68, a current ratio of 2.48 and a debt-to-equity ratio of 1.00.

Rexnord (NYSE:RXN) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Rexnord had a net margin of 1.68% and a return on equity of 19.22%. The business had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $543.89 million. During the same period last year, the company posted $0.47 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Rexnord Corp will post 1.95 earnings per share for the current year.

Large investors have recently modified their holdings of the business. AdvisorNet Financial Inc purchased a new position in shares of Rexnord in the 4th quarter worth $25,000. NumerixS Investment Technologies Inc purchased a new position in shares of Rexnord during the 4th quarter worth about $25,000. Ibex Investors LLC purchased a new position in shares of Rexnord during the 4th quarter worth about $215,000. Blueshift Asset Management LLC purchased a new position in shares of Rexnord during the 4th quarter worth about $248,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Rexnord by 26.8% during the 4th quarter. Hsbc Holdings PLC now owns 11,810 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 2,497 shares during the period.

Separately, Zacks Investment Research raised shares of Rexnord from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.63.

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.

Featured Article: Marijuana Stocks Future Looks Bright

Insider Buying and Selling by Quarter for Rexnord (NYSE:RXN)

Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.