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

Rexnord Corp (NYSE:RXN) insider Michael Troutman sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.51, for a total value of $710,200.00. Following the transaction, the insider now directly owns 41,781 shares in the company, valued at approximately $1,483,643.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Shares of NYSE RXN traded down $0.18 during midday trading on Friday, reaching $35.29. 548,600 shares of the company were exchanged, compared to its average volume of 775,326. The company has a current ratio of 2.79, a quick ratio of 1.78 and a debt-to-equity ratio of 0.84. Rexnord Corp has a 1 year low of $24.24 and a 1 year high of $35.64. The stock has a fifty day simple moving average of $33.12 and a 200 day simple moving average of $29.78. The stock has a market cap of $4.31 billion, a P/E ratio of 21.92, a PEG ratio of 2.04 and a beta of 1.60.

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. Rexnord had a return on equity of 18.82% and a net margin of 9.66%. The firm had revenue of $491.70 million for the quarter, compared to analyst estimates of $487.32 million. During the same quarter last year, the company posted $0.47 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, analysts forecast that Rexnord Corp will post 1.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors 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 is Thursday, February 20th.

A number of equities analysts recently issued reports on RXN shares. Robert W. Baird raised 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 report on Wednesday, January 29th. Bank of America raised Rexnord from an “underperform” rating to a “buy” rating in a report on Tuesday, December 17th. ValuEngine raised Rexnord from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Deutsche Bank raised their price target on Rexnord from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, KeyCorp raised their price target on Rexnord from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $33.40.

A number of large investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC acquired a new stake in Rexnord in the fourth quarter valued at about $531,000. Bank of America Corp DE lifted its position in Rexnord by 8.4% in the fourth quarter. Bank of America Corp DE now owns 1,265,400 shares of the industrial products company’s stock valued at $41,277,000 after purchasing an additional 98,567 shares during the period. UBS Asset Management Americas Inc. lifted its position in Rexnord by 19.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,070,546 shares of the industrial products company’s stock valued at $34,921,000 after purchasing an additional 173,498 shares during the period. Knights of Columbus Asset Advisors LLC acquired a new stake in Rexnord in the fourth quarter valued at about $2,095,000. Finally, Goldman Sachs Group Inc. lifted its position in Rexnord by 3.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,734,779 shares of the industrial products company’s stock valued at $121,828,000 after purchasing an additional 109,072 shares during the period.

About Rexnord

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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