Crane NXT, Co. (NYSE:CXT) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,344 shares of the company's stock after selling 12,658 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of Crane NXT worth $6,583,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. grew its stake in Crane NXT by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company's stock worth $68,372,000 after purchasing an additional 33,664 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Crane NXT by 93.4% during the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company's stock worth $69,716,000 after buying an additional 548,155 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crane NXT by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company's stock worth $66,626,000 after buying an additional 33,460 shares during the period. Congress Asset Management Co. raised its holdings in Crane NXT by 18.3% in the third quarter. Congress Asset Management Co. now owns 742,813 shares of the company's stock valued at $41,672,000 after acquiring an additional 114,707 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Crane NXT by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company's stock worth $32,074,000 after acquiring an additional 19,224 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Stock Performance

NYSE CXT traded down $0.49 during trading hours on Wednesday, hitting $61.29. The company had a trading volume of 267,281 shares, compared to its average volume of 347,141. The company has a market cap of $3.50 billion, a PE ratio of 20.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. Crane NXT, Co. has a 1-year low of $50.37 and a 1-year high of $64.80. The business has a 50 day moving average of $57.28 and a 200-day moving average of $58.42.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The business had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same period in the prior year, the company earned $1.09 earnings per share. The company's revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts expect that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT's dividend payout ratio (DPR) is presently 20.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CXT shares. Northland Securities reduced their price objective on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. DA Davidson restated a "buy" rating and issued a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Robert W. Baird upped their price objective on Crane NXT from $77.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Baird R W raised Crane NXT to a "strong-buy" rating in a research report on Thursday, October 17th.

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.