Minneapolis Portfolio Management Group LLC Trims Stock Position in Crane NXT, Co. (NYSE:CXT)

Minneapolis Portfolio Management Group LLC lowered its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 23.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 381,764 shares of the company's stock after selling 114,437 shares during the period. Crane NXT accounts for approximately 2.9% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 20th largest position. Minneapolis Portfolio Management Group LLC owned 0.67% of Crane NXT worth $22,226,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Conestoga Capital Advisors LLC bought a new stake in Crane NXT in the fourth quarter worth approximately $31,517,000. Potrero Capital Research LLC acquired a new position in shares of Crane NXT during the 3rd quarter valued at $5,734,000. ArrowMark Colorado Holdings LLC bought a new position in Crane NXT during the third quarter worth $5,712,000. Royce & Associates LP grew its holdings in Crane NXT by 35.7% in the fourth quarter. Royce & Associates LP now owns 376,421 shares of the company's stock worth $21,915,000 after purchasing an additional 98,936 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock valued at $345,303,000 after purchasing an additional 66,800 shares during the period. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Down 2.5 %

Shares of CXT traded down $1.30 during trading hours on Friday, reaching $51.32. 286,352 shares of the stock traded hands, compared to its average volume of 372,889. Crane NXT, Co. has a 52 week low of $50.87 and a 52 week high of $67.01. The stock has a fifty day simple moving average of $58.21 and a 200 day simple moving average of $58.10. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 16.09 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

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Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data 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 analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT's payout ratio is currently 21.32%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. Two research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.33.

About Crane NXT

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.