Crane NXT, Co. $CXT Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Crane NXT, Co. by 19.4%, now owning approximately 0.11% of the company, valued at about $3.2 million.
• Crane NXT's recent earnings report showed an EPS of $0.97, exceeding estimates and with a revenue of $404.4 million.
• A quarterly dividend of $0.17 with an annual yield of 1.2% was declared, demonstrating a payout ratio of 25.95%.

Goldman Sachs Group Inc. decreased its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 19.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,383 shares of the company's stock after selling 15,044 shares during the quarter. Goldman Sachs Group Inc. owned about 0.11% of Crane NXT worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CXT. Park Square Financial Group LLC acquired a new position in shares of Crane NXT during the fourth quarter worth about $26,000. UMB Bank n.a. raised its holdings 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 buying an additional 327 shares during the period. Jones Financial Companies Lllp lifted its position in Crane NXT by 120.3% during the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $37,000 after acquiring an additional 391 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after acquiring an additional 256 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Crane NXT in the first quarter valued at approximately $44,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Up 0.2%

NYSE CXT traded up $0.12 during trading hours on Monday, reaching $56.59. 385,017 shares of the company traded hands, compared to its average volume of 417,111. The stock has a market capitalization of $3.25 billion, a PE ratio of 21.60 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, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The company has a 50 day moving average of $59.41 and a two-hundred day moving average of $54.51.

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

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.2%. Crane NXT's payout ratio is presently 25.95%.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a "buy" rating and set a $85.00 target price on shares of Crane NXT in a research report on Monday, September 15th. One equities research 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 stock. According to MarketBeat, Crane NXT has an average rating of "Moderate Buy" and a consensus target price of $73.75.

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.