Creative Planning Sells 604 Shares of Crane NXT, Co. (NYSE:CXT)

Creative Planning lessened its holdings in Crane NXT, Co. (NYSE:CXT) by 4.8% during the third quarter, HoldingsChannel.com reports. The firm owned 11,905 shares of the company’s stock after selling 604 shares during the period. Creative Planning’s holdings in Crane NXT were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. lifted its position in shares of Crane NXT by 93.4% in the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after purchasing an additional 548,155 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Crane NXT by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after purchasing an additional 33,460 shares in the last quarter. Capital International Investors lifted its position in shares of Crane NXT by 40.0% in the first quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after purchasing an additional 186,437 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Crane NXT by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company’s stock worth $32,074,000 after purchasing an additional 19,224 shares in the last quarter. Finally, Ancora Advisors LLC lifted its position in shares of Crane NXT by 5.5% in the first quarter. Ancora Advisors LLC now owns 320,085 shares of the company’s stock worth $19,813,000 after purchasing an additional 16,740 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CXT has been the topic of a number of research reports. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities lowered their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird started coverage on shares of Crane NXT in a report on Thursday, October 17th. They set an “outperform” rating and a $77.00 target price on the stock. Finally, DA Davidson restated a “buy” rating and set a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th.

Crane NXT Price Performance

Shares of CXT opened at $53.98 on Monday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 17.19 and a beta of 1.33. Crane NXT, Co. has a 1-year low of $48.42 and a 1-year high of $64.80. The company’s fifty day simple moving average is $56.41 and its 200 day simple moving average is $58.91. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The business had revenue of $370.60 million for the quarter, compared to the consensus estimate of $367.08 million. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts forecast that Crane NXT, Co. will post 4.27 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. Crane NXT’s dividend payout ratio is currently 20.38%.

About Crane NXT

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.