Vanguard Group Inc. Sells 16,142 Shares of Crane NXT, Co. $CXT

Vanguard Group Inc. cut its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,914,853 shares of the company's stock after selling 16,142 shares during the quarter. Vanguard Group Inc. owned 10.31% of Crane NXT worth $304,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CXT. Renaissance Technologies LLC raised its stake in shares of Crane NXT by 319.7% in the fourth quarter. Renaissance Technologies LLC now owns 31,900 shares of the company's stock worth $1,857,000 after purchasing an additional 24,300 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Crane NXT in the fourth quarter worth approximately $2,580,000. Barclays PLC raised its stake in shares of Crane NXT by 66.6% in the fourth quarter. Barclays PLC now owns 62,750 shares of the company's stock worth $3,654,000 after purchasing an additional 25,087 shares during the last quarter. Mariner LLC purchased a new stake in shares of Crane NXT during the fourth quarter valued at approximately $206,000. Finally, XTX Topco Ltd increased its position in shares of Crane NXT by 68.4% during the fourth quarter. XTX Topco Ltd now owns 9,759 shares of the company's stock valued at $568,000 after acquiring an additional 3,965 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CXT has been the subject of a number of research analyst reports. UBS Group decreased their price target on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. DA Davidson reaffirmed a "buy" rating and set a $85.00 price target on shares of Crane NXT in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Performance

NYSE CXT traded up $3.1270 on Friday, hitting $63.2770. 375,062 shares of the stock traded hands, compared to its average volume of 414,715. The business's fifty day moving average is $57.69 and its two-hundred day moving average is $54.30. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 24.15 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20.

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 for the quarter, beating the consensus estimate of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The business had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's dividend payout ratio is 25.95%.

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.