Crane NXT, Co. $CXT Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Crane NXT by 28.3%, now owning 384,810 shares worth approximately $19.78 million.
• Crane NXT reported $0.97 earnings per share, exceeding analyst expectations, and a revenue of $404.40 million for the quarter.
• The company declared a quarterly dividend of $0.17 per share, to be paid on September 10th, with an annualized yield of 1.1%.

Fuller & Thaler Asset Management Inc. reduced its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 28.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384,810 shares of the company's stock after selling 152,225 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.67% of Crane NXT worth $19,779,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Crane NXT by 16.2% in the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock valued at $188,584,000 after purchasing an additional 512,813 shares during the last quarter. Boston Partners boosted its position in shares of Crane NXT by 25.8% in the 1st quarter. Boston Partners now owns 28,062 shares of the company's stock valued at $1,442,000 after purchasing an additional 5,749 shares during the period. Russell Investments Group Ltd. grew its position in shares of Crane NXT by 10.9% during the first quarter. Russell Investments Group Ltd. now owns 187,847 shares of the company's stock worth $9,655,000 after acquiring an additional 18,530 shares during the last quarter. Invesco Ltd. grew its position in shares of Crane NXT by 4.0% during the first quarter. Invesco Ltd. now owns 1,064,749 shares of the company's stock worth $54,728,000 after acquiring an additional 40,602 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Crane NXT by 9.6% during the first quarter. Benjamin Edwards Inc. now owns 14,197 shares of the company's stock worth $730,000 after acquiring an additional 1,238 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. DA Davidson restated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a research report on Monday, August 18th. UBS Group lowered their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Performance

Shares of CXT stock traded down $0.37 during trading hours on Monday, reaching $62.96. 45,520 shares of the company's stock were exchanged, compared to its average volume of 421,943. The company has a market cap of $3.62 billion, a P/E ratio of 24.04 and a beta of 1.33. The company's 50 day moving average is $57.69 and its two-hundred day moving average is $54.15. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $382.79 million. Equities research analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Crane NXT's dividend payout ratio (DPR) is 25.95%.

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.