Gamco Investors INC. ET AL Sells 9,540 Shares of Crane NXT, Co. (NYSE:CXT)

Gamco Investors INC. ET AL decreased its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 157,343 shares of the company's stock after selling 9,540 shares during the period. Gamco Investors INC. ET AL owned 0.28% of Crane NXT worth $9,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock valued at $32,000 after purchasing an additional 276 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Crane NXT during the third quarter valued at about $32,000. Covestor Ltd increased its stake in Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Crane NXT by 985.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after buying an additional 1,488 shares during the period. Finally, Cascade Financial Partners LLC purchased a new position in shares of Crane NXT in the fourth quarter valued at about $202,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CXT. Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two 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 stock. Based on data from MarketBeat, Crane NXT currently has a consensus rating of "Moderate Buy" and an average target price of $83.33.

Crane NXT Stock Up 1.9 %

Shares of CXT traded up $0.82 on Tuesday, reaching $44.12. The stock had a trading volume of 55,410 shares, compared to its average volume of 447,855. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.82 and a beta of 1.21. The company has a 50-day simple moving average of $51.93 and a 200-day simple moving average of $56.71. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Sell-side analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. This is an increase from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio (DPR) is 21.32%.

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.