What Did This CEO Just Do with Personal Shares of Rexnord (RXN)?

Yesterday, the President & CEO of Rexnord (RXN), Todd Adams, sold shares of RXN for $2.36M.

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Based on Rexnord’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $547 million and quarterly net profit of $28.5 million. In comparison, last year the company earned revenue of $538 million and had a net profit of $47.2 million. The company has a one-year high of $35.64 and a one-year low of $18.87. Currently, Rexnord has an average volume of 835.15K.

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $28.80, reflecting a -2.8% downside.

The insider sentiment on Rexnord has been negative according to 82 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems. The Water Management segment designs, procures, manufactures and markets products for water quality, safety, flow control enhancements, and conservation. The company was founded by Christopher W. Levalley, F. W. Sivyer and W. A. Draves in 1891 and is headquartered in Milwaukee, WI.