Cresset Asset Management LLC Lowers Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Cresset Asset Management LLC lowered its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 55.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,468 shares of the company's stock after selling 6,916 shares during the quarter. Cresset Asset Management LLC's holdings in Crane NXT were worth $318,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Capital International Investors lifted its holdings in shares of Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock worth $78,658,000 after acquiring an additional 597,537 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new position in Crane NXT during the fourth quarter worth $31,517,000. Norges Bank purchased a new position in shares of Crane NXT during the fourth quarter worth $26,754,000. FMR LLC boosted its position in shares of Crane NXT by 4.1% during the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after buying an additional 336,765 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Crane NXT in the fourth quarter valued at $10,719,000. Hedge funds and other institutional investors own 77.49% of the company's stock.

Analyst Ratings Changes

CXT has been the subject of several research reports. UBS Group dropped their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. DA Davidson dropped their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. Northland Securities lowered shares of 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. Finally, Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Stock Up 0.1%

Shares of CXT traded up $0.05 during midday trading on Thursday, hitting $52.30. The company had a trading volume of 24,208 shares, compared to its average volume of 389,105. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01. The firm has a market capitalization of $3.00 billion, a P/E ratio of 16.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The company's 50-day simple moving average is $49.33 and its 200-day simple moving average is $55.92.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The firm had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. During the same quarter last year, the company earned $0.85 earnings per share. The firm's revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current 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 given a dividend of $0.17 per share. The ex-dividend date is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. Crane NXT's dividend payout ratio (DPR) is currently 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.