Raymond James & Associates Trims Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Raymond James & Associates decreased its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 25.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,217 shares of the company's stock after selling 20,048 shares during the quarter. Raymond James & Associates owned about 0.10% of Crane NXT worth $3,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Crane NXT in the first quarter worth approximately $38,000. nVerses Capital LLC acquired a new position in shares of Crane NXT during the 3rd quarter valued at $45,000. Hobbs Group Advisors LLC bought a new position in Crane NXT during the second quarter worth $52,000. Blue Trust Inc. increased its stake in Crane NXT by 27.8% in the second quarter. Blue Trust Inc. now owns 942 shares of the company's stock valued at $58,000 after purchasing an additional 205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company's stock valued at $116,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Stock Performance

CXT stock traded up $0.65 during midday trading on Tuesday, hitting $54.00. The company's stock had a trading volume of 412,593 shares, compared to its average volume of 345,778. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 17.16 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The stock's 50-day moving average price is $56.32 and its 200 day moving average price is $58.83. Crane NXT, Co. has a 1 year low of $48.42 and a 1 year high of $64.80.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $370.60 million for the quarter, compared to the consensus estimate of $367.08 million. During the same period in the previous year, the firm earned $1.12 EPS. The firm's quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Crane NXT, Co. will post 4.27 EPS for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT's dividend payout ratio (DPR) is 20.38%.

Analysts Set New Price Targets

Several research firms have recently commented on CXT. Baird R W upgraded Crane NXT to a "strong-buy" rating in a report on Thursday, October 17th. Robert W. Baird assumed coverage on shares of Crane NXT in a research report on Thursday, October 17th. They set an "outperform" rating and a $77.00 target price for the company. DA Davidson reiterated a "buy" rating and set a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Finally, Northland Securities cut 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.

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.