Minneapolis Portfolio Management Group LLC Lowers Stake in Crane NXT, Co. (NYSE:CXT)

Minneapolis Portfolio Management Group LLC lessened its holdings in Crane NXT, Co. (NYSE:CXT) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 496,201 shares of the company’s stock after selling 10,858 shares during the quarter. Crane NXT comprises 3.6% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 13th largest position. Minneapolis Portfolio Management Group LLC owned approximately 0.87% of Crane NXT worth $27,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Congress Asset Management Co. grew its stake in shares of Crane NXT by 18.3% in the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after buying an additional 114,707 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Crane NXT by 0.5% in the third quarter. State of Alaska Department of Revenue now owns 82,518 shares of the company’s stock worth $4,628,000 after acquiring an additional 385 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Crane NXT by 25.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,469 shares of the company’s stock worth $251,000 after acquiring an additional 908 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Crane NXT by 3.9% during the third quarter. Venture Visionary Partners LLC now owns 67,129 shares of the company’s stock valued at $3,766,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN raised its position in shares of Crane NXT by 64.1% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 95,281 shares of the company’s stock worth $5,345,000 after purchasing an additional 37,233 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

Crane NXT stock traded down $0.29 during midday trading on Friday, reaching $53.98. 468,094 shares of the company traded hands, compared to its average volume of 344,302. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. Crane NXT, Co. has a 12 month low of $48.42 and a 12 month high of $64.80. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 17.19 and a beta of 1.33. The business has a 50 day moving average of $56.41 and a two-hundred day moving average of $58.91.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The firm had revenue of $370.60 million for the quarter, compared to the consensus estimate of $367.08 million. During the same period last year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts predict that Crane NXT, Co. will post 4.27 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.19%. Crane NXT’s dividend payout ratio (DPR) is 20.38%.

Wall Street Analyst Weigh In

CXT has been the subject of a number of analyst reports. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities reduced their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Robert W. Baird started coverage on Crane NXT in a report on Thursday, October 17th. They set an “outperform” rating and a $77.00 price target on the stock.

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.