Nuveen Asset Management LLC Sells 33,147 Shares of Crane NXT, Co. (NYSE:CXT)

Nuveen Asset Management LLC cut its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,149 shares of the company's stock after selling 33,147 shares during the period. Nuveen Asset Management LLC owned about 0.50% of Crane NXT worth $16,485,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CXT. Deutsche Bank AG lifted its holdings in Crane NXT by 3.0% in the 4th quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock valued at $339,000 after purchasing an additional 168 shares in the last quarter. Covestor Ltd lifted its stake in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after buying an additional 206 shares during the period. Amalgamated Bank lifted its stake in shares of Crane NXT by 1.0% during the fourth quarter. Amalgamated Bank now owns 22,950 shares of the company's stock valued at $1,336,000 after buying an additional 233 shares during the period. Corient Private Wealth LLC boosted its position in Crane NXT by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock worth $1,231,000 after acquiring an additional 254 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after acquiring an additional 276 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CXT. UBS Group decreased their price target 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. 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 report on Friday, May 9th. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. Finally, Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Stock Performance

Crane NXT stock traded down $0.25 during mid-day trading on Friday, hitting $53.74. 28,901 shares of the company's stock traded hands, compared to its average volume of 420,509. The company has a market cap of $3.08 billion, a PE ratio of 16.84 and a beta of 1.27. The firm has a 50 day moving average price of $49.17 and a 200 day moving average price of $55.81. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.00. 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 (NYSE:CXT - Get Free Report) last announced 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. The company had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. On average, equities analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is currently 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.