Nisa Investment Advisors LLC Lowers Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Nisa Investment Advisors LLC reduced its stake in Crane NXT, Co. (NYSE:CXT) by 17.3% during the third quarter, HoldingsChannel.com reports. The firm owned 19,081 shares of the company’s stock after selling 4,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Crane NXT were worth $1,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Michigan Retirement System boosted its holdings in Crane NXT by 2.6% in the first quarter. State of Michigan Retirement System now owns 11,872 shares of the company’s stock worth $735,000 after acquiring an additional 300 shares in the last quarter. Norden Group LLC bought a new position in Crane NXT in the 1st quarter worth about $263,000. Janney Montgomery Scott LLC purchased a new stake in Crane NXT during the 1st quarter valued at about $343,000. Central Pacific Bank Trust Division bought a new stake in Crane NXT during the 1st quarter valued at about $463,000. Finally, Texas Permanent School Fund Corp raised its holdings in Crane NXT by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 42,252 shares of the company’s stock worth $2,615,000 after buying an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Down 0.5 %

Shares of Crane NXT stock opened at $53.98 on Monday. Crane NXT, Co. has a twelve month low of $48.42 and a twelve month high of $64.80. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $56.41 and its 200 day moving average is $58.91. 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 (NYSE:CXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The firm had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. During the same period in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Crane NXT, Co. will post 4.27 EPS for the current year.

Crane NXT Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.