Crane NXT, Co. (NYSE:CXT) Shares Sold by Snyder Capital Management L P

Snyder Capital Management L P decreased its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 44.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 218,239 shares of the company's stock after selling 176,601 shares during the quarter. Snyder Capital Management L P owned 0.38% of Crane NXT worth $12,706,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Crane NXT by 8.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,862 shares of the company's stock valued at $1,739,000 after acquiring an additional 2,323 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Crane NXT in the fourth quarter valued at approximately $707,000. Stifel Financial Corp raised its holdings in Crane NXT by 26.9% in the fourth quarter. Stifel Financial Corp now owns 55,365 shares of the company's stock valued at $3,223,000 after acquiring an additional 11,738 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Crane NXT by 194.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,491 shares of the company's stock worth $844,000 after purchasing an additional 9,571 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Crane NXT during the fourth quarter worth approximately $334,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Stock Performance

Shares of NYSE:CXT traded down $0.82 on Wednesday, reaching $46.37. The company's stock had a trading volume of 85,365 shares, compared to its average volume of 383,857. The stock has a market capitalization of $2.66 billion, a P/E ratio of 14.54 and a beta of 1.21. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01. The stock's 50-day moving average is $50.36 and its two-hundred day moving average is $56.35. 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 quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current 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 issued a $0.17 dividend. The ex-dividend date was Friday, February 28th. This is a boost from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.47%. Crane NXT's dividend payout ratio (DPR) is 21.32%.

Analysts Set New Price Targets

A number of research firms have weighed in on CXT. Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.