Crane NXT, Co. (NYSE:CXT) Holdings Decreased by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 43.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,553 shares of the company's stock after selling 51,069 shares during the period. Millennium Management LLC owned 0.11% of Crane NXT worth $3,816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after acquiring an additional 336,765 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock worth $345,303,000 after buying an additional 66,800 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Crane NXT by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company's stock valued at $183,750,000 after buying an additional 72,992 shares during the last quarter. Capital International Investors lifted its stake in shares of Crane NXT by 79.3% during the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after buying an additional 597,537 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Crane NXT by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company's stock worth $71,579,000 after acquiring an additional 136,810 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Stock Performance

Shares of NYSE:CXT traded up $0.72 on Tuesday, reaching $54.02. 334,273 shares of the company's stock were exchanged, compared to its average volume of 394,965. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The business's 50-day moving average is $49.23 and its two-hundred day moving average is $55.77. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.93 and a beta of 1.27.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Crane NXT's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 1.26%. Crane NXT's dividend payout ratio is presently 23.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CXT. UBS Group cut their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Northland Capmk lowered shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, DA Davidson decreased their price target on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Company 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.