Vanguard Group Inc. Trims Holdings in Crane NXT, Co. (NYSE:CXT)

Vanguard Group Inc. cut its holdings in Crane NXT, Co. (NYSE:CXT) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,508,871 shares of the company’s stock after selling 6,996 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Crane NXT worth $313,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in Crane NXT during the 3rd quarter valued at about $28,000. Assetmark Inc. grew its position in Crane NXT by 9,630.0% during the 4th quarter. Assetmark Inc. now owns 973 shares of the company’s stock valued at $55,000 after purchasing an additional 963 shares during the last quarter. USA Financial Formulas purchased a new stake in Crane NXT during the 3rd quarter valued at about $105,000. GAMMA Investing LLC purchased a new stake in Crane NXT during the 4th quarter valued at about $112,000. Finally, Quest Partners LLC purchased a new stake in Crane NXT during the 4th quarter valued at about $191,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

Shares of NYSE CXT opened at $61.42 on Friday. The firm’s 50-day moving average price is $61.53 and its 200-day moving average price is $59.66. The company has a quick ratio of 1.56, a current ratio of 2.12 and a debt-to-equity ratio of 0.66. The company has a market cap of $3.51 billion, a PE ratio of 19.38 and a beta of 1.35. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $64.80.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $313.60 million for the quarter, compared to analysts’ expectations of $311.72 million. Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. As a group, analysts anticipate that Crane NXT, Co. will post 4.3 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, May 31st. Crane NXT’s dividend payout ratio (DPR) is presently 20.19%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Northland Securities started coverage on shares of Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 price objective on the stock. DA Davidson raised their price target on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

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.