Rexnord Corp (NYSE:RXN) Insider Michael Troutman Sells 20,000 Shares

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Rexnord Corp (NYSE:RXN) insider Michael Troutman sold 20,000 shares of Rexnord stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.51, for a total transaction of $710,200.00. Following the completion of the sale, the insider now directly owns 41,781 shares of the company’s stock, valued at $1,483,643.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Michael Troutman also recently made the following trade(s):

  • On Wednesday, February 5th, Michael Troutman sold 32,500 shares of Rexnord stock. The shares were sold at an average price of $34.11, for a total transaction of $1,108,575.00.
  • On Friday, November 22nd, Michael Troutman sold 5,676 shares of Rexnord stock. The shares were sold at an average price of $26.31, for a total transaction of $149,335.56.

Shares of NYSE RXN opened at $35.29 on Friday. The stock has a market capitalization of $4.32 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.14 and a beta of 1.60. The company has a 50-day moving average price of $33.17 and a 200-day moving average price of $29.81. 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.

Rexnord (NYSE:RXN) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $491.70 million during the quarter, compared to analysts’ expectations of $487.32 million. Rexnord had a net margin of 9.66% and a return on equity of 18.82%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. As a group, equities research analysts anticipate that Rexnord Corp will post 1.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 20th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Rexnord by 2.0% during the second quarter. BlackRock Inc. now owns 8,031,257 shares of the industrial products company’s stock worth $242,704,000 after purchasing an additional 160,009 shares during the last quarter. FMR LLC boosted its holdings in Rexnord by 4.0% during the fourth quarter. FMR LLC now owns 3,905,902 shares of the industrial products company’s stock worth $127,411,000 after purchasing an additional 150,507 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rexnord by 3.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,734,779 shares of the industrial products company’s stock worth $121,828,000 after purchasing an additional 109,072 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Rexnord by 49.3% during the fourth quarter. Franklin Resources Inc. now owns 3,329,311 shares of the industrial products company’s stock worth $108,602,000 after purchasing an additional 1,100,011 shares during the last quarter. Finally, State Street Corp boosted its holdings in Rexnord by 0.5% during the fourth quarter. State Street Corp now owns 2,177,370 shares of the industrial products company’s stock worth $71,026,000 after purchasing an additional 11,231 shares during the last quarter.

Several equities research analysts have weighed in on the stock. ValuEngine raised shares of Rexnord from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. KeyCorp lifted their price objective on shares of Rexnord from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Bank of America upgraded shares of Rexnord from an “underperform” rating to a “buy” rating in a report on Tuesday, December 17th. Deutsche Bank lifted their price objective on shares of Rexnord from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird upgraded shares of Rexnord from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $42.00 in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.40.

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

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