Deutsche Bank AG increased its stake in shares of Rexnord Corp (NYSE:RXN) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,166,112 shares of the industrial products company’s stock after buying an additional 144,791 shares during the quarter. Deutsche Bank AG owned 1.12% of Rexnord worth $30,341,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Global X Management Co. LLC grew its holdings in Rexnord by 75.3% during the fourth quarter. Global X Management Co. LLC now owns 7,194 shares of the industrial products company’s stock worth $187,000 after buying an additional 3,090 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Rexnord during the third quarter worth $219,000. Investors Research Corp bought a new stake in Rexnord during the fourth quarter worth $268,000. Balter Liquid Alternatives LLC bought a new stake in Rexnord during the fourth quarter worth $271,000. Finally, Manchester Capital Management LLC grew its holdings in Rexnord by 159.6% during the third quarter. Manchester Capital Management LLC now owns 14,380 shares of the industrial products company’s stock worth $365,000 after buying an additional 8,840 shares in the last quarter. Institutional investors and hedge funds own 99.81% of the company’s stock.
Several equities research analysts recently issued reports on the company. ValuEngine upgraded Rexnord from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. TheStreet upgraded Rexnord from a “c+” rating to a “b” rating in a report on Friday, January 26th. KeyCorp upped their price target on Rexnord from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Zacks Investment Research upgraded Rexnord from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Deutsche Bank set a $33.00 price target on Rexnord and gave the stock a “buy” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.57.
Rexnord stock opened at $29.57 on Monday. The stock has a market capitalization of $3,074.66, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.77 and a beta of 1.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.49 and a quick ratio of 1.58. Rexnord Corp has a 12 month low of $21.85 and a 12 month high of $31.44.
Rexnord (NYSE:RXN) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. The firm had revenue of $492.30 million during the quarter, compared to the consensus estimate of $479.66 million. Rexnord had a return on equity of 13.05% and a net margin of 8.29%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. equities research analysts expect that Rexnord Corp will post 1.34 earnings per share for the current fiscal year.
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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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