DF Dent & Co. Inc. reduced its position in shares of Rexnord Corp (NYSE:RXN) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,267 shares of the industrial products company’s stock after selling 4,547 shares during the period. DF Dent & Co. Inc.’s holdings in Rexnord were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RXN. Wells Fargo & Company MN boosted its position in shares of Rexnord by 36.1% during the first quarter. Wells Fargo & Company MN now owns 2,056,105 shares of the industrial products company’s stock worth $61,025,000 after buying an additional 545,897 shares during the period. Prudential Financial Inc. boosted its position in shares of Rexnord by 195.0% during the first quarter. Prudential Financial Inc. now owns 57,634 shares of the industrial products company’s stock worth $1,710,000 after buying an additional 38,100 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Rexnord by 24.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,368 shares of the industrial products company’s stock worth $1,436,000 after buying an additional 9,598 shares during the period. Swiss National Bank boosted its position in shares of Rexnord by 2.3% during the first quarter. Swiss National Bank now owns 180,700 shares of the industrial products company’s stock worth $5,363,000 after buying an additional 4,000 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Rexnord by 6.9% during the first quarter. State of Wisconsin Investment Board now owns 357,000 shares of the industrial products company’s stock worth $10,596,000 after buying an additional 23,000 shares during the period.

Several research analysts have recently commented on RXN shares. Bank of America raised their price target on Rexnord from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Oppenheimer restated a “buy” rating and set a $35.00 price target on shares of Rexnord in a research report on Monday, July 30th. Finally, KeyCorp raised their price target on Rexnord from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Rexnord has a consensus rating of “Buy” and an average price target of $32.67.

Shares of NYSE RXN opened at $30.84 on Friday. The firm has a market capitalization of $3.12 billion, a PE ratio of 22.19, a P/E/G ratio of 1.07 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.62 and a current ratio of 2.40. Rexnord Corp has a 12-month low of $22.89 and a 12-month high of $31.44.

Rexnord (NYSE:RXN) last announced its quarterly earnings data on Monday, July 30th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. The business had revenue of $503.60 million for the quarter, compared to analysts’ expectations of $505.18 million. Rexnord had a return on equity of 14.99% and a net margin of 2.34%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. analysts anticipate that Rexnord Corp will post 1.7 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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