Brown Advisory Inc. Trims Holdings in Crane NXT, Co. (NYSE:CXT)

Brown Advisory Inc. lessened its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 525,178 shares of the company's stock after selling 22,112 shares during the quarter. Brown Advisory Inc. owned approximately 0.92% of Crane NXT worth $30,576,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after buying an additional 206 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Crane NXT by 1.0% during the 4th quarter. Amalgamated Bank now owns 22,950 shares of the company's stock valued at $1,336,000 after buying an additional 233 shares during the period. Corient Private Wealth LLC raised its position in Crane NXT by 1.2% in the fourth quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock worth $1,231,000 after acquiring an additional 254 shares during the period. Cetera Trust Company N.A increased its holdings in Crane NXT by 7.0% in the 4th quarter. Cetera Trust Company N.A now owns 4,198 shares of the company's stock worth $244,000 after acquiring an additional 275 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares in the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CXT shares. Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. DA Davidson reduced their price objective on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday. Finally, Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a report on Tuesday, February 18th. Two research 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 currently has a consensus rating of "Moderate Buy" and an average price target of $78.33.

Crane NXT Price Performance

Shares of NYSE CXT traded up $1.96 during midday trading on Friday, hitting $52.92. The stock had a trading volume of 544,658 shares, compared to its average volume of 388,956. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01. The company has a market capitalization of $3.04 billion, a PE ratio of 16.59 and a beta of 1.27. The stock has a 50 day simple moving average of $49.15 and a 200-day simple moving average of $55.94. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The company had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. During the same quarter last year, the company earned $0.85 EPS. Crane NXT's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Crane NXT's payout ratio is 23.37%.

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.