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

Vanguard Group Inc. reduced its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 0.3% during the first quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Park Square Financial Group LLC purchased a new stake in Crane NXT during the fourth quarter valued at about $26,000. UMB Bank n.a. lifted its holdings in Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after purchasing an additional 327 shares during the last quarter. Quarry LP bought a new stake in shares of Crane NXT during the fourth quarter valued at about $42,000. Fifth Third Bancorp increased its position in shares of Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after buying an additional 256 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in shares of Crane NXT during the first quarter valued at about $44,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Trading Up 0.2%

CXT stock traded up $0.15 on Thursday, reaching $60.35. The company's stock had a trading volume of 113,681 shares, compared to its average volume of 423,487. The business has a fifty day simple moving average of $57.41 and a two-hundred day simple moving average of $54.32. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.00. The firm has a market cap of $3.47 billion, a PE ratio of 23.04 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 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $404.40 million during the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. As a group, 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, September 10th. Shareholders of record on Friday, August 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.1%. Crane NXT's dividend payout ratio (DPR) is currently 25.95%.

Analyst Upgrades and Downgrades

CXT has been the topic of several analyst reports. 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 report on Tuesday, May 13th. DA Davidson restated a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT 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.