Federated Hermes Inc. Sells 5,893 Shares of Crane NXT, Co. (NYSE:CXT)

Federated Hermes Inc. reduced its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,780 shares of the company's stock after selling 5,893 shares during the quarter. Federated Hermes Inc. owned 0.05% of Crane NXT worth $1,792,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Crane NXT during the third quarter valued at about $32,000. Venturi Wealth Management LLC raised its holdings in Crane NXT by 985.4% in 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 shares of Crane NXT in the 4th quarter worth approximately $202,000. Finally, Oak Thistle LLC acquired a new stake in shares of Crane NXT during the 4th quarter worth approximately $203,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Price Performance

Shares of Crane NXT stock traded up $0.45 during midday trading on Friday, hitting $44.65. 335,939 shares of the company were exchanged, compared to its average volume of 381,569. The firm has a 50 day simple moving average of $52.54 and a 200-day simple moving average of $56.85. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.01. The firm has a market cap of $2.56 billion, a P/E ratio of 14.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a $0.17 dividend. This is an increase from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Friday, February 28th. Crane NXT's payout ratio is presently 21.32%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CXT shares. Northland Securities lowered 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 shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock 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.