Crane NXT, Co. (NYSE:CXT) Holdings Decreased by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its position in Crane NXT, Co. (NYSE:CXT) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,175 shares of the company’s stock after selling 200 shares during the period. Griffin Asset Management Inc.’s holdings in Crane NXT were worth $346,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CXT. Wellington Management Group LLP bought a new stake in Crane NXT in the fourth quarter worth approximately $66,550,000. Congress Asset Management Co. MA increased its holdings in Crane NXT by 3,331.1% in the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock valued at $36,855,000 after buying an additional 578,043 shares during the period. Pacer Advisors Inc. increased its stake in Crane NXT by 93.4% in the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after acquiring an additional 548,155 shares during the period. Capital International Investors raised its holdings in shares of Crane NXT by 40.0% in the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after buying an additional 186,437 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Crane NXT by 97.0% during the second quarter. Hsbc Holdings PLC now owns 247,842 shares of the company’s stock worth $15,222,000 after acquiring an additional 122,056 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CXT has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Northland Securities dropped their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th.

Crane NXT Stock Up 1.5 %

NYSE:CXT opened at $55.60 on Thursday. Crane NXT, Co. has a 1 year low of $48.42 and a 1 year high of $64.80. The stock has a 50-day moving average price of $56.74 and a two-hundred day moving average price of $59.29. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 17.54 and a beta of 1.32. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. The business had revenue of $370.60 million during the quarter, compared to analyst estimates of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. Crane NXT’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 EPS. As a group, equities analysts expect that Crane NXT, Co. will post 4.28 earnings per share for the current year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued 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 1.15%. Crane NXT’s payout ratio is 20.19%.

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.