Crane NXT, Co. (NYSE:CXT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 143,050 shares of the company's stock after selling 29,000 shares during the period. Gabelli Funds LLC owned about 0.25% of Crane NXT worth $8,328,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT during the third quarter worth $32,000. Fifth Third Bancorp lifted its holdings in Crane NXT by 98.6% during the 4th 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. Covestor Ltd boosted its position in Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after buying an additional 206 shares during the period. Venturi Wealth Management LLC grew its stake in Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Cascade Financial Partners LLC purchased a new position in shares of Crane NXT during the fourth quarter worth approximately $202,000. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Stock Up 1.0 %

Shares of CXT traded up $0.45 during mid-day trading on Friday, hitting $44.65. The company's stock had a trading volume of 335,939 shares, compared to its average volume of 381,861. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.00 and a beta of 1.21. The company's 50-day moving average is $52.24 and its 200-day moving average is $56.79. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01.

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 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, equities research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

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

Analysts Set New Price Targets

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

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.