JPMorgan Chase & Co. cut its holdings in Rexnord Corp (NYSE:RXN) by 85.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 81,949 shares of the industrial products company’s stock after selling 500,986 shares during the period. JPMorgan Chase & Co.’s holdings in Rexnord were worth $2,088,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc boosted its stake in Rexnord by 12.6% during the 3rd quarter. Legal & General Group Plc now owns 81,501 shares of the industrial products company’s stock valued at $2,074,000 after purchasing an additional 9,125 shares during the period. Manchester Capital Management LLC boosted its stake in Rexnord by 159.6% during the 3rd quarter. Manchester Capital Management LLC now owns 14,380 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 8,840 shares during the period. Nordea Investment Management AB boosted its stake in Rexnord by 11.0% during the 3rd quarter. Nordea Investment Management AB now owns 87,939 shares of the industrial products company’s stock valued at $2,235,000 after purchasing an additional 8,744 shares during the period. American International Group Inc. boosted its stake in Rexnord by 8.1% during the 3rd quarter. American International Group Inc. now owns 69,829 shares of the industrial products company’s stock valued at $1,774,000 after purchasing an additional 5,221 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Rexnord during the 3rd quarter valued at about $1,232,000.

A number of research firms have issued reports on RXN. Zacks Investment Research lowered shares of Rexnord from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Oppenheimer restated a “hold” rating on shares of Rexnord in a research report on Thursday, September 28th. Finally, TheStreet downgraded shares of Rexnord from a “b-” rating to a “c+” rating in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Shares of Rexnord Corp (RXN) opened at $26.33 on Monday. Rexnord Corp has a 52-week low of $20.41 and a 52-week high of $26.52. The company has a market cap of $2,736.35, a PE ratio of 39.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08.

Rexnord (NYSE:RXN) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. The company had revenue of $510.80 million for the quarter, compared to the consensus estimate of $505.75 million. During the same period in the previous year, the firm earned $0.38 EPS. Rexnord’s revenue was up 4.0% on a year-over-year basis. sell-side analysts anticipate that Rexnord Corp will post 1.25 earnings per share for the current fiscal year.

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Rexnord Profile

Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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