Crane NXT, Co. (NYSE:CXT) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lessened its stake in shares of Crane NXT, Co. (NYSE:CXT) by 5.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,850 shares of the company’s stock after selling 325 shares during the period. Griffin Asset Management Inc.’s holdings in Crane NXT were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Crane NXT during the 3rd quarter valued at $32,000. Fifth Third Bancorp boosted its stake in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after buying an additional 276 shares in the last quarter. nVerses Capital LLC acquired a new position in Crane NXT during the third quarter worth about $45,000. GAMMA Investing LLC raised its position in Crane NXT by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock worth $144,000 after acquiring an additional 380 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Crane NXT in the 3rd quarter valued at about $181,000. Institutional investors own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CXT has been the topic of several recent research reports. Northland Securities lowered their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

Crane NXT Price Performance

NYSE CXT opened at $63.59 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. Crane NXT, Co. has a 1 year low of $52.89 and a 1 year high of $67.00. The company has a market cap of $3.64 billion, a PE ratio of 20.85 and a beta of 1.35. The stock’s 50-day moving average price is $60.97 and its two-hundred day moving average price is $58.49.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. Crane NXT’s dividend payout ratio is 20.98%.

Crane NXT 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.