New York State Teachers Retirement System Cuts Stock Position in Crane NXT, Co. (NYSE:CXT)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of Crane NXT in the 4th quarter worth approximately $26,000. UMB Bank n.a. grew its stake in shares of Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after buying an additional 327 shares during the last quarter. Quarry LP purchased a new stake in Crane NXT during the 4th quarter valued at $42,000. Fifth Third Bancorp boosted its stake in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after purchasing an additional 256 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. DA Davidson cut their target price on Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group cut their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Performance

CXT stock opened at $55.39 on Tuesday. The company has a market cap of $3.18 billion, a P/E ratio of 19.03 and a beta of 1.29. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.92. The stock's fifty day moving average price is $53.51 and its 200-day moving average price is $54.87.

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

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were paid 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 dividend yield of 1.23%. Crane NXT's dividend payout ratio (DPR) is currently 23.37%.

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.

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