CIBC Private Wealth Group LLC Decreases Stock Position in Crane NXT, Co. (NYSE:CXT)

CIBC Private Wealth Group LLC lowered its position in shares of Crane NXT, Co. (NYSE:CXT) by 25.8% during the fourth quarter, HoldingsChannel reports. The firm owned 4,680 shares of the company’s stock after selling 1,628 shares during the period. CIBC Private Wealth Group LLC’s holdings in Crane NXT were worth $288,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in Crane NXT in the 3rd quarter worth $486,000. Centiva Capital LP acquired a new position in shares of Crane NXT in the third quarter worth about $525,000. Holocene Advisors LP purchased a new position in Crane NXT in the third quarter valued at about $490,000. Systematic Financial Management LP purchased a new position in shares of Crane NXT during the 3rd quarter valued at approximately $245,000. Finally, Stifel Financial Corp grew its position in shares of Crane NXT by 60.6% during the third quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock worth $2,448,000 after buying an additional 16,465 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CXT has been the subject of several research analyst reports. Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Crane NXT currently has an average rating of “Moderate Buy” and an average target price of $83.33.

Crane NXT Stock Performance

CXT stock opened at $45.05 on Friday. The stock’s fifty day moving average is $56.66 and its two-hundred day moving average is $57.83. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. Crane NXT, Co. has a 1 year low of $42.83 and a 1 year high of $67.01.

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

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a dividend of $0.17 per share. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT’s payout ratio is currently 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.