Crane NXT, Co. (NYSE:CXT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its stake in Crane NXT, Co. (NYSE:CXT) by 0.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,389 shares of the company’s stock after selling 187 shares during the period. MetLife Investment Management LLC’s holdings in Crane NXT were worth $1,424,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Crane NXT by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,644 shares of the company’s stock valued at $1,650,000 after acquiring an additional 1,407 shares during the last quarter. Tidal Investments LLC increased its position in shares of Crane NXT by 22.4% during the first quarter. Tidal Investments LLC now owns 6,383 shares of the company’s stock worth $395,000 after purchasing an additional 1,170 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Crane NXT in the 1st quarter valued at about $244,000. SG Americas Securities LLC acquired a new stake in shares of Crane NXT in the 2nd quarter valued at about $748,000. Finally, Welch Group LLC grew its stake in Crane NXT by 57.1% during the 2nd quarter. Welch Group LLC now owns 5,500 shares of the company’s stock worth $338,000 after buying an additional 2,000 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Crane NXT Price Performance

Shares of NYSE CXT opened at $61.12 on Friday. The stock has a fifty day moving average price of $56.84 and a 200 day moving average price of $58.44. Crane NXT, Co. has a 1-year low of $50.31 and a 1-year high of $64.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. The company has a market cap of $3.49 billion, a PE ratio of 20.04 and a beta of 1.34.

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

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Crane NXT Company Profile

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.