New York State Teachers Retirement System Has $2.59 Million Stake in Crane NXT, Co. (NYSE:CXT)

New York State Teachers Retirement System reduced its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,349 shares of the company's stock after selling 4,630 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Crane NXT worth $2,588,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new stake in Crane NXT in the 4th quarter valued at approximately $26,000. UMB Bank n.a. boosted its position in shares of Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after acquiring an additional 327 shares during the period. Quarry LP acquired a new stake in shares of Crane NXT in the fourth quarter worth $42,000. Fifth Third Bancorp increased its position 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 acquiring an additional 256 shares during the period. Finally, Covestor Ltd increased its position in Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after acquiring an additional 206 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CXT has been the subject of a number of research reports. UBS Group reduced their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. DA Davidson cut their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Crane NXT presently has a consensus rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Price Performance

Shares of CXT stock traded down $0.67 during trading hours on Friday, hitting $58.63. The company had a trading volume of 253,504 shares, compared to its average volume of 406,135. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20. The firm's fifty day moving average is $54.16 and its 200 day moving average is $54.92. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 20.15 and a beta of 1.29.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same period in the prior year, the company posted $0.85 earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

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.