Short Interest in Crane NXT, Co. (NYSE:CXT) Decreases By 10.4%

Crane NXT, Co. (NYSE:CXT) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,410,000 shares, a drop of 10.4% from the August 31st total of 4,920,000 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average daily volume of 372,900 shares, the short-interest ratio is presently 11.8 days.

Institutional Investors Weigh In On Crane NXT

A number of hedge funds and other institutional investors have recently bought and sold shares of CXT. GAMMA Investing LLC raised its stake in shares of Crane NXT by 9.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after acquiring an additional 195 shares during the period. Blue Trust Inc. raised its holdings in Crane NXT by 27.8% during the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after purchasing an additional 205 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after buying an additional 265 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Crane NXT by 3.7% in the 4th quarter. Bank of Nova Scotia now owns 7,613 shares of the company’s stock worth $433,000 after purchasing an additional 270 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Crane NXT by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 13,548 shares of the company’s stock valued at $832,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a report on Monday.

Crane NXT Trading Down 1.9 %

NYSE CXT traded down $1.07 during trading on Tuesday, hitting $55.03. The stock had a trading volume of 282,189 shares, compared to its average volume of 344,130. The firm has a 50 day moving average price of $57.86 and a 200 day moving average price of $59.74. The company has a market capitalization of $3.14 billion, a PE ratio of 17.36 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. Crane NXT has a twelve month low of $48.42 and a twelve month high of $64.80.

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

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s dividend payout ratio (DPR) is presently 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.