AXQ Capital LP Sells 2,827 Shares of Crane NXT, Co. (NYSE:CXT)

AXQ Capital LP reduced its stake in shares of Crane NXT, Co. (NYSE:CXT) by 40.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,145 shares of the company’s stock after selling 2,827 shares during the period. AXQ Capital LP’s holdings in Crane NXT were worth $241,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Stifel Financial Corp grew its holdings in Crane NXT by 60.6% during the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock worth $2,448,000 after acquiring an additional 16,465 shares during the period. Park Avenue Securities LLC acquired a new stake in Crane NXT during the 4th quarter worth about $527,000. Barclays PLC grew its holdings in Crane NXT by 45.3% during the 3rd quarter. Barclays PLC now owns 37,663 shares of the company’s stock worth $2,113,000 after acquiring an additional 11,734 shares during the period. Lord Abbett & CO. LLC grew its holdings in Crane NXT by 12.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after acquiring an additional 43,439 shares during the period. Finally, FORA Capital LLC acquired a new stake in Crane NXT during the 3rd quarter worth about $507,000. 77.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Crane NXT Stock Performance

Shares of CXT opened at $52.94 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The stock has a 50-day moving average of $59.29 and a 200-day moving average of $58.25. The company has a market cap of $3.03 billion, a PE ratio of 16.59 and a beta of 1.32. Crane NXT, Co. has a one year low of $52.02 and a one year high of $67.01.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate 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, equities research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s payout ratio is 21.32%.

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.