Crane NXT, Co. (NYSE:CXT) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. decreased its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 75.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,035 shares of the company’s stock after selling 21,655 shares during the quarter. Griffin Asset Management Inc.’s holdings in Crane NXT were worth $435,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CXT. Acadian Asset Management LLC purchased a new position in Crane NXT during the third quarter worth about $28,000. Assetmark Inc. boosted its position in shares of Crane NXT by 9,630.0% in the fourth quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after acquiring an additional 963 shares during the last quarter. USA Financial Formulas purchased a new stake in Crane NXT in the third quarter valued at approximately $105,000. GAMMA Investing LLC purchased a new stake in Crane NXT in the fourth quarter valued at approximately $112,000. Finally, Atlas Capital Advisors LLC increased its position in Crane NXT by 30.5% during the first quarter. Atlas Capital Advisors LLC now owns 2,470 shares of the company’s stock worth $153,000 after purchasing an additional 577 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Trading Up 2.2 %

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

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, May 8th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The business had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. During the same period in the prior year, the business posted $0.96 EPS. The business’s revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts predict that Crane NXT, Co. will post 4.3 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a 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 Analyst Weigh In

Several brokerages have recently issued reports on CXT. Northland Securities began coverage on shares of Crane NXT in a research note on Monday, April 8th. They set an “outperform” rating and a $91.00 price objective for the company. DA Davidson boosted their price target on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

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.