Advisors Asset Management Inc. Reduces Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Advisors Asset Management Inc. reduced its stake in shares of Crane NXT, Co. (NYSE:CXT) by 21.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,816 shares of the company’s stock after selling 3,758 shares during the quarter. Advisors Asset Management Inc.’s holdings in Crane NXT were worth $775,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Crane NXT by 9.8% during the second quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after buying an additional 195 shares during the period. Blue Trust Inc. grew its holdings in shares of Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after acquiring an additional 205 shares during the period. Atria Investments Inc raised its position in shares of Crane NXT by 6.0% in the 3rd quarter. Atria Investments Inc now owns 3,700 shares of the company’s stock worth $208,000 after acquiring an additional 208 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Crane NXT by 1.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,923 shares of the company’s stock valued at $725,000 after purchasing an additional 245 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after purchasing an additional 265 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Baird R W upgraded Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. DA Davidson reissued a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday, September 30th. Robert W. Baird upped their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Northland Securities lowered their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

Crane NXT Price Performance

CXT opened at $63.24 on Wednesday. Crane NXT, Co. has a 1 year low of $50.31 and a 1 year high of $64.80. The stock has a 50-day moving average price of $56.22 and a 200-day moving average price of $58.32. The firm has a market cap of $3.62 billion, a PE ratio of 20.73 and a beta of 1.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Sell-side analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s payout ratio is 20.98%.

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.