Rexnord Corp (RXN) Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its position in Rexnord Corp (NYSE:RXN) by 62.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,054 shares of the industrial products company’s stock after selling 519,867 shares during the period. Deutsche Bank AG’s holdings in Rexnord were worth $7,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc acquired a new stake in Rexnord during the 4th quarter valued at $25,000. NumerixS Investment Technologies Inc acquired a new stake in Rexnord during the 4th quarter valued at $25,000. Essex Investment Management Co. LLC acquired a new stake in Rexnord during the 4th quarter valued at $43,000. Quantamental Technologies LLC acquired a new stake in Rexnord during the 4th quarter valued at $73,000. Finally, Ibex Investors LLC acquired a new stake in Rexnord during the 4th quarter valued at $215,000.

RXN stock opened at $28.02 on Monday. Rexnord Corp has a 52-week low of $21.38 and a 52-week high of $32.11. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 2.87. The firm has a market cap of $2.94 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52.

Rexnord (NYSE:RXN) last posted its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. Rexnord had a positive return on equity of 18.32% and a negative net margin of 3.58%. The business had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $487.19 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Rexnord Corp will post 1.82 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Rexnord from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Barclays reiterated a “hold” rating and set a $30.00 target price on shares of Rexnord in a report on Friday, February 1st. Credit Suisse Group reiterated a “neutral” rating and set a $25.00 target price (down previously from $31.00) on shares of Rexnord in a report on Thursday, January 3rd. Oppenheimer upgraded Rexnord to a “buy” rating and set a $35.00 price objective on the stock in a report on Monday, February 4th. Finally, Robert W. Baird set a $29.00 price objective on Rexnord and gave the stock a “buy” rating in a report on Friday, January 25th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Rexnord has an average rating of “Hold” and an average target price of $30.63.

In other Rexnord news, Director David C. Longren acquired 3,500 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were acquired at an average price of $26.50 per share, for a total transaction of $92,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 30,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $28.02, for a total value of $840,600.00. Following the completion of the transaction, the chief executive officer now directly owns 271,792 shares in the company, valued at $7,615,611.84. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.baseballdailydigest.com/news/2019/04/22/rexnord-corp-rxn-shares-sold-by-deutsche-bank-ag.html.

Rexnord Company Profile

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.

Featured Story: Current Ratio

Want to see what other hedge funds are holding RXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexnord Corp (NYSE:RXN).

Institutional Ownership 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.