Crane NXT, Co. (NYSE:CXT) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC lessened its stake in shares of Crane NXT, Co. (NYSE:CXT) by 23.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 381,764 shares of the company’s stock after selling 114,437 shares during the period. Crane NXT comprises about 2.9% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 20th largest holding. Minneapolis Portfolio Management Group LLC owned 0.67% of Crane NXT worth $22,226,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Crane NXT in the third quarter valued at $32,000. Fifth Third Bancorp lifted its holdings in shares of Crane NXT by 98.6% in 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 in the last quarter. Venturi Wealth Management LLC lifted its holdings 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 valued at $95,000 after purchasing an additional 1,488 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Crane NXT in the third quarter valued at $181,000. Finally, Cascade Financial Partners LLC purchased a new stake in shares of Crane NXT in the fourth quarter valued at $202,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $52.94 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 1 year low of $52.02 and a 1 year high of $67.01. The business has a fifty day simple moving average of $59.29 and a 200 day simple moving average of $58.25. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 16.59 and a beta of 1.32.

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

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.28%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT’s dividend payout ratio is presently 21.32%.

Analyst Upgrades and Downgrades

CXT has been the subject of a number of research analyst reports. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crane NXT has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

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.