Wells Fargo & Company MN Sells 31,879 Shares of Crane NXT, Co. (NYSE:CXT)

Wells Fargo & Company MN cut its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 40.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,216 shares of the company's stock after selling 31,879 shares during the period. Wells Fargo & Company MN owned about 0.08% of Crane NXT worth $2,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CXT. Fifth Third Bancorp boosted its stake in shares of Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after purchasing an additional 276 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Crane NXT during the third quarter valued at approximately $32,000. Venturi Wealth Management LLC increased its stake in 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 purchasing an additional 1,488 shares during the period. Cascade Financial Partners LLC purchased a new stake in Crane NXT in the 4th quarter valued at about $202,000. Finally, Oak Thistle LLC bought a new position in Crane NXT in the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 77.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CXT shares. Northland Capmk cut shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price on the stock. in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.

Crane NXT Stock Down 0.6 %

CXT stock traded down $0.27 during midday trading on Wednesday, hitting $46.92. The company's stock had a trading volume of 394,614 shares, compared to its average volume of 385,497. The firm has a 50-day simple moving average of $50.14 and a 200-day simple moving average of $56.29. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.69 billion, a P/E ratio of 14.71 and a beta of 1.21. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.45%. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT's dividend payout ratio (DPR) is 21.32%.

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.