Insider Selling: Praveen Jeyarajah Unloads 27,500 Shares of Rexnord Corp Stock (RXN)
Rexnord Corp (NYSE:RXN) EVP Praveen Jeyarajah sold 27,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $23.18, for a total transaction of $637,450.00. Following the completion of the sale, the executive vice president now directly owns 140,426 shares in the company, valued at approximately $3,255,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Rexnord Corp (NYSE:RXN) traded up 0.91% during mid-day trading on Monday, hitting $23.27. The stock had a trading volume of 40,163 shares. Rexnord Corp has a 52 week low of $15.88 and a 52 week high of $23.67. The stock has a 50-day moving average of $21.10 and a 200-day moving average of $19.11. The company’s market cap is $2.275 billion.
Rexnord Corp (NYSE:RXN) last announced its earnings results on Thursday, October 24th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $515.00 million for the quarter, compared to the consensus estimate of $513.67 million. Analysts expect that Rexnord Corp will post $1.34 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of Rexnord Corp from $24.00 to $26.00 in a research note to investors on Friday, October 25th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Rexnord Corp to $24.00 in a research note to investors on Friday, October 25th. They now have an “equal weight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Rexnord Corp from $19.00 to $21.00 in a research note to investors on Tuesday, October 8th. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.14.
Rexnord Corporation (NYSE:RXN), formerly Rexnord Holdings, Inc, is a multi-platform industrial company.
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