Russell Investments Group Ltd. Trims Holdings in Crane NXT, Co. (NYSE:CXT)

Russell Investments Group Ltd. lowered its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,317 shares of the company's stock after selling 20,599 shares during the quarter. Russell Investments Group Ltd. owned about 0.30% of Crane NXT worth $9,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CXT. Vanguard Group Inc. boosted its position in 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 last quarter. Wellington Management Group LLP raised its holdings in shares of Crane NXT by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company's stock worth $183,750,000 after buying an additional 72,992 shares in the last quarter. State Street Corp boosted its position in Crane NXT by 1.6% in the third quarter. State Street Corp now owns 1,443,518 shares of the company's stock valued at $80,981,000 after buying an additional 22,041 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Crane NXT by 6.4% during the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company's stock worth $56,157,000 after purchasing an additional 60,468 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in Crane NXT by 1.3% in the 4th quarter. Congress Asset Management Co. now owns 752,734 shares of the company's stock worth $43,824,000 after purchasing an additional 9,921 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Crane NXT Price Performance

CXT traded up $0.23 on Thursday, hitting $44.43. 50,608 shares of the company's stock traded hands, compared to its average volume of 380,216. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The company's 50 day simple moving average is $52.88 and its 200-day simple moving average is $56.93. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 13.93 and a beta of 1.21.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (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%. As a group, research analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio (DPR) is presently 21.32%.

Crane NXT Company 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.