Renaissance Technologies LLC Has $10.60 Million Holdings in Rexnord Llc (RXN)

Renaissance Technologies LLC lowered its position in Rexnord Llc (NYSE:RXN) by 41.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 407,393 shares of the industrial products company’s stock after selling 292,000 shares during the period. Renaissance Technologies LLC owned about 0.39% of Rexnord worth $10,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RXN. BlackRock Inc. raised its position in shares of Rexnord by 14.5% in the fourth quarter. BlackRock Inc. now owns 8,162,025 shares of the industrial products company’s stock worth $212,376,000 after acquiring an additional 1,031,304 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Rexnord in the fourth quarter worth about $23,580,000. Janus Henderson Group PLC raised its position in shares of Rexnord by 5.5% in the third quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock worth $360,250,000 after acquiring an additional 738,129 shares during the period. 1060 Capital LLC acquired a new position in shares of Rexnord in the fourth quarter worth about $18,503,000. Finally, Impax Asset Management LTD raised its position in shares of Rexnord by 14.9% in the fourth quarter. Impax Asset Management LTD now owns 3,682,376 shares of the industrial products company’s stock worth $95,815,000 after acquiring an additional 478,604 shares during the period. Institutional investors and hedge funds own 99.81% of the company’s stock.

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A number of brokerages have weighed in on RXN. Bank of America upgraded shares of Rexnord from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Barclays began coverage on shares of Rexnord in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $30.00 price objective for the company. KeyCorp upped their price objective on shares of Rexnord from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Zacks Investment Research downgraded shares of Rexnord from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, UBS raised shares of Rexnord from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $30.57.

RXN stock opened at $30.18 on Friday. The stock has a market cap of $3,059.05, a PE ratio of 22.86, a P/E/G ratio of 1.37 and a beta of 1.60. 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 Llc has a 52 week low of $21.85 and a 52 week high of $31.44.

Rexnord (NYSE:RXN) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. The business had revenue of $492.30 million during the quarter, compared to analysts’ expectations of $479.66 million. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. equities analysts anticipate that Rexnord Llc will post 1.35 EPS for the current fiscal year.

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Rexnord Profile

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, 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, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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