Crane NXT, Co. $CXT Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. has reduced its stake in Crane NXT, Co. by 10.6%, owning 140,680 shares valued at approximately $7.23 million as of the end of the first quarter.
• Crane NXT reported a quarterly earnings per share (EPS) of $0.97, exceeding expected estimates of $0.92, alongside a revenue of $404.40 million.
• The company has announced a quarterly dividend of $0.17 per share, with a dividend yield of 1.1% and a payout ratio of 25.95%.

Gamco Investors INC. ET AL lowered its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,680 shares of the company's stock after selling 16,663 shares during the quarter. Gamco Investors INC. ET AL owned about 0.25% of Crane NXT worth $7,231,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Crane NXT in the fourth quarter valued at about $26,000. UMB Bank n.a. increased its stake in Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after purchasing an additional 327 shares during the period. Quarry LP purchased a new stake in Crane NXT during the fourth quarter worth about $42,000. Fifth Third Bancorp increased its stake in Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Crane NXT during the first quarter worth about $44,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. DA Davidson restated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a research note on Monday, August 18th. UBS Group cut 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 note on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Stock Down 1.0%

Crane NXT stock traded down $0.60 during mid-day trading on Monday, hitting $59.69. The company had a trading volume of 392,319 shares, compared to its average volume of 443,529. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 22.78 and a beta of 1.37. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.00. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $58.27 and a 200 day moving average of $54.20.

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

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's dividend payout ratio is presently 25.95%.

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.