Crane NXT, Co. $CXT Stock Position Decreased by BOS Asset Management LLC

Key Points

• BOS Asset Management LLC reduced its stake in Crane NXT, Co. by 41.5%, holding $430,000 in stock at the end of the first quarter.
• Other institutional investors, including Ameriprise Financial and Wellington Management, have significantly increased their positions in Crane NXT, indicating strong institutional interest in the company.
• Analysts have set a price target of $85.00 for Crane NXT shares, with an average rating classified as "Moderate Buy".

BOS Asset Management LLC trimmed its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 41.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,372 shares of the company's stock after selling 5,936 shares during the period. BOS Asset Management LLC's holdings in Crane NXT were worth $430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CXT. Park Square Financial Group LLC acquired a new stake in shares of Crane NXT during the 4th quarter valued at approximately $26,000. UMB Bank n.a. raised its position in shares of Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after acquiring an additional 327 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Crane NXT by 120.3% during the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $37,000 after acquiring an additional 391 shares in the last quarter. Fifth Third Bancorp increased its position in Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after buying an additional 256 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Crane NXT in the first quarter worth $44,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Crane NXT currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Trading Down 2.5%

Shares of NYSE:CXT traded down $1.54 during midday trading on Friday, reaching $60.39. The company had a trading volume of 376,945 shares, compared to its average volume of 374,707. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.00. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 23.05 and a beta of 1.37. The company has a fifty day simple moving average of $59.40 and a two-hundred day simple moving average of $54.38.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The business had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. Research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. Crane NXT's dividend payout ratio is currently 25.95%.

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.