HighPoint Advisor Group LLC Trims Position in Crane NXT, Co. (NYSE:CXT)

HighPoint Advisor Group LLC reduced its position in Crane NXT, Co. (NYSE:CXT) by 7.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,928 shares of the company’s stock after selling 562 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Crane NXT were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Crane NXT during the 3rd quarter valued at $32,000. Fifth Third Bancorp increased its stake in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after acquiring an additional 276 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after acquiring an additional 1,488 shares during the last quarter. Cascade Financial Partners LLC bought a new position in shares of Crane NXT in the fourth quarter worth approximately $202,000. Finally, Oak Thistle LLC bought a new stake in Crane NXT during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CXT. Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Crane NXT has an average rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Stock Performance

Crane NXT stock opened at $52.13 on Thursday. The firm has a fifty day simple moving average of $57.40 and a two-hundred day simple moving average of $58.00. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a twelve month low of $50.23 and a twelve month high of $67.01. The company has a market capitalization of $2.98 billion, a PE ratio of 16.34 and a beta of 1.32.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT’s payout ratio is presently 21.32%.

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.