Schonfeld Strategic Advisors LLC Trims Stock Position in Crane NXT, Co. (NYSE:CXT)

Schonfeld Strategic Advisors LLC trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 63.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,057 shares of the company's stock after selling 13,862 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Crane NXT were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CXT. Covestor Ltd increased its position 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 acquiring an additional 206 shares during the last quarter. Amalgamated Bank increased its holdings in Crane NXT by 1.0% in the 4th quarter. Amalgamated Bank now owns 22,950 shares of the company's stock valued at $1,336,000 after purchasing an additional 233 shares during the last quarter. Corient Private Wealth LLC raised its position in Crane NXT by 1.2% in the fourth quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock valued at $1,231,000 after purchasing an additional 254 shares during the period. Cetera Trust Company N.A lifted its stake in Crane NXT by 7.0% during the fourth quarter. Cetera Trust Company N.A now owns 4,198 shares of the company's stock worth $244,000 after purchasing an additional 275 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CXT. Northland Securities lowered Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research note on Tuesday, February 18th. Northland Capmk lowered shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, DA Davidson cut their target price on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $78.33.

Crane NXT Stock Performance

Shares of CXT opened at $52.92 on Friday. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01. The stock has a market capitalization of $3.04 billion, a PE ratio of 16.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock has a 50-day simple moving average of $49.15 and a 200-day simple moving average of $55.94.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The company had revenue of $330.30 million during the quarter, compared to analysts' expectations of $318.46 million. During the same quarter in the previous year, the business posted $0.85 EPS. The firm's revenue was up 5.3% on a year-over-year basis. On average, analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, May 30th. Crane NXT's dividend payout ratio (DPR) is 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.

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