Gamco Investors INC. ET AL Cuts Holdings in Crane NXT, Co. (NYSE:CXT)

Gamco Investors INC. ET AL decreased its holdings in Crane NXT, Co. (NYSE:CXT) by 44.1% in the first quarter, Holdings Channel reports. The firm owned 254,478 shares of the company’s stock after selling 201,065 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Crane NXT were worth $15,752,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CXT. Assetmark Inc. lifted its position in Crane NXT by 9,630.0% during the fourth quarter. Assetmark Inc. now owns 973 shares of the company’s stock valued at $55,000 after purchasing an additional 963 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Crane NXT by 154.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock worth $100,000 after buying an additional 984 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Crane NXT in the 4th quarter worth $112,000. Atlas Capital Advisors LLC grew its holdings in shares of Crane NXT by 30.5% in the first quarter. Atlas Capital Advisors LLC now owns 2,470 shares of the company’s stock worth $153,000 after acquiring an additional 577 shares during the period. Finally, Goelzer Investment Management Inc. purchased a new stake in Crane NXT during the first quarter valued at $206,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

Separately, Northland Securities started coverage on Crane NXT in a research report on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price on the stock.

Crane NXT Stock Performance

Shares of Crane NXT stock traded up $2.45 on Friday, hitting $63.84. 295,193 shares of the company’s stock were exchanged, compared to its average volume of 340,943. Crane NXT, Co. has a 1 year low of $48.42 and a 1 year high of $64.80. The company has a 50-day simple moving average of $60.61 and a 200-day simple moving average of $60.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12. The stock has a market capitalization of $3.65 billion, a PE ratio of 20.14 and a beta of 1.34.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The company had revenue of $313.60 million for the quarter, compared to analysts’ expectations of $311.72 million. During the same quarter last year, the firm posted $0.96 earnings per share. Crane NXT’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.3 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, May 31st. Crane NXT’s dividend payout ratio is currently 20.19%.

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.