Clearbridge Investments LLC Decreases Stake in Crane NXT, Co. (NYSE:CXT)

Clearbridge Investments LLC decreased its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,278 shares of the company's stock after selling 5,847 shares during the quarter. Clearbridge Investments LLC owned about 0.33% of Crane NXT worth $11,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT during the 3rd quarter valued at about $32,000. Fifth Third Bancorp lifted its holdings in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares during the period. Venturi Wealth Management LLC boosted its position in Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock valued at $95,000 after acquiring an additional 1,488 shares in the last quarter. Cascade Financial Partners LLC bought a new stake in Crane NXT during the 4th quarter valued at approximately $202,000. Finally, Oak Thistle LLC purchased a new position in shares of Crane NXT during the 4th quarter worth approximately $203,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CXT. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Crane NXT presently has an average rating of "Moderate Buy" and an average target price of $83.33.

Remove Ads

Crane NXT Stock Down 3.9 %

Shares of CXT traded down $1.82 during mid-day trading on Friday, reaching $45.05. The company had a trading volume of 722,575 shares, compared to its average volume of 377,116. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.12 and a beta of 1.21. The firm has a 50-day moving average price of $56.66 and a 200 day moving average price of $57.83. Crane NXT, Co. has a 52 week low of $42.83 and a 52 week high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a dividend of $0.17 per share. This is a boost from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. Crane NXT's dividend payout ratio is presently 21.32%.

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.