Rexnord Corp (NYSE:RXN) Shares Bought by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of Rexnord Corp (NYSE:RXN) by 2,821.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,053 shares of the industrial products company’s stock after purchasing an additional 109,183 shares during the period. Bank of Montreal Can owned 0.11% of Rexnord worth $3,286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RXN. Prudential Financial Inc. grew its holdings in shares of Rexnord by 195.0% during the 1st quarter. Prudential Financial Inc. now owns 57,634 shares of the industrial products company’s stock valued at $1,710,000 after acquiring an additional 38,100 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Rexnord by 79.6% during the 1st quarter. Engineers Gate Manager LP now owns 89,085 shares of the industrial products company’s stock valued at $2,644,000 after acquiring an additional 39,486 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Rexnord by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,224,822 shares of the industrial products company’s stock valued at $36,352,000 after acquiring an additional 13,058 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Rexnord by 5.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 729,555 shares of the industrial products company’s stock valued at $21,654,000 after acquiring an additional 40,756 shares in the last quarter. Finally, Crescent Grove Advisors LLC purchased a new position in shares of Rexnord during the 1st quarter valued at $5,014,000.

RXN has been the subject of a number of recent research reports. Oppenheimer upped their price objective on shares of Rexnord from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, June 22nd. Bank of America upped their price objective on shares of Rexnord from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. KeyCorp upped their price objective on shares of Rexnord from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research cut shares of Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.67.

NYSE:RXN traded up $0.02 during trading hours on Friday, reaching $29.03. The company’s stock had a trading volume of 222,700 shares, compared to its average volume of 705,933. The stock has a market capitalization of $3.01 billion, a PE ratio of 20.82, a P/E/G ratio of 1.04 and a beta of 1.51. Rexnord Corp has a one year low of $22.89 and a one year high of $31.44. The company has a current ratio of 2.40, a quick ratio of 1.62 and a debt-to-equity ratio of 1.13.

Rexnord (NYSE:RXN) last issued its quarterly earnings data on Monday, July 30th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. The firm had revenue of $503.60 million during the quarter, compared to analysts’ expectations of $505.18 million. Rexnord had a net margin of 2.34% and a return on equity of 14.99%. Rexnord’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. sell-side analysts forecast that Rexnord Corp will post 1.7 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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