BOS Asset Management LLC Lowers Position in Crane NXT, Co. $CXT

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 cut its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 41.5% in the 1st quarter, according to its most recent disclosure with the SEC. 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.

A number of other institutional investors have also added to or reduced their stakes in CXT. Ameriprise Financial Inc. increased its stake in Crane NXT by 9.8% in the fourth quarter. Ameriprise Financial Inc. now owns 396,887 shares of the company's stock valued at $23,104,000 after acquiring an additional 35,388 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Crane NXT in the fourth quarter valued at $1,597,000. Captrust Financial Advisors bought a new position in Crane NXT in the fourth quarter valued at $283,000. Cetera Investment Advisers increased its stake in Crane NXT by 176.2% in the fourth quarter. Cetera Investment Advisers now owns 17,789 shares of the company's stock valued at $1,036,000 after acquiring an additional 11,349 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Crane NXT in the fourth quarter valued at $252,000. Institutional investors own 77.49% of the company's stock.

Crane NXT Trading Down 0.4%

Shares of NYSE:CXT traded down $0.24 on Tuesday, reaching $59.23. 145,595 shares of the company traded hands, compared to its average volume of 420,208. The business's 50-day simple moving average is $59.48 and its 200 day simple moving average is $54.39. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The stock has a market capitalization of $3.40 billion, a P/E ratio of 22.60 and a beta of 1.37. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73.

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

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 29th. Crane NXT's dividend payout ratio is currently 25.95%.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a research note on Monday. One 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.75.

About Crane NXT

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.