Engineers Gate Manager LP Reduces Holdings in Crane NXT, Co. $CXT

Key Points

• Engineers Gate Manager LP cut its Crane NXT stake by 81.9% in the second quarter, selling 37,794 shares and retaining 8,368 shares valued at approximately $428,000. Institutional investors collectively own 77.49% of the company.
• Analysts remain generally bullish, with a consensus “Moderate Buy” rating and an average price target of $66.83. DA Davidson and Jefferies issued “Buy” ratings with price targets of $85 and $60, respectively.
• Crane NXT reported quarterly adjusted earnings of $1.10 per share and revenue of $493.2 million, exceeding analyst estimates, while revenue rose 22.1% year over year. The company pays a quarterly dividend of $0.18 per share, yielding about 1.5%.

Engineers Gate Manager LP reduced its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 81.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,368 shares of the company's stock after selling 37,794 shares during the period. Engineers Gate Manager LP's holdings in Crane NXT were worth $428,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new stake in Crane NXT during the 2nd quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of Crane NXT by 4,458.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company's stock valued at $26,000 after purchasing an additional 535 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Crane NXT in the second quarter valued at about $37,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Crane NXT during the 2nd quarter worth about $53,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Crane NXT during the 4th quarter worth about $49,000. Institutional investors own 77.49% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on CXT. DA Davidson reissued a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a report on Friday, September 18th. Weiss Ratings upgraded Crane NXT from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Robert W. Baird set a $68.00 target price on Crane NXT in a research report on Friday, August 7th. Northland Securities set a $65.00 target price on Crane NXT in a research note on Monday, August 10th. Finally, Jefferies Financial Group started coverage on Crane NXT in a report on Tuesday. They set a "buy" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.83.

Crane NXT Trading Down 2.5%

Shares of CXT stock opened at $47.23 on Friday. The stock has a market cap of $2.72 billion, a P/E ratio of 19.52 and a beta of 1.08. Crane NXT, Co. has a 1 year low of $35.71 and a 1 year high of $69.00. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $50.50 and a 200 day simple moving average of $46.09.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. The firm had revenue of $493.20 million during the quarter, compared to analysts' expectations of $475.62 million. Crane NXT had a return on equity of 19.87% and a net margin of 7.78%.The company's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, research analysts predict that Crane NXT, Co. will post 4.27 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, August 31st. Crane NXT's dividend payout ratio is presently 29.75%.

About Crane NXT

Crane NXT, Inc is a technology company that develops solutions for payment acceptance, cash management and brand protection. Its products are used by businesses and governments to authenticate currency, process transactions and protect products and documents from counterfeiting.

Through its Crane Payment Innovations business, the company provides banknote and coin validators, cashless payment systems, transaction-processing technology, telemetry and related software. These solutions serve industries such as vending, gaming, retail, transportation and other unattended-payment markets.

Crane NXT also operates Crane Currency, which supplies banknotes, security features and authentication technologies for central banks, commercial institutions and other organizations.

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