Crane NXT, Co. (NYSE:CXT) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its position in Crane NXT, Co. (NYSE:CXT) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,278 shares of the company’s stock after selling 5,847 shares during the period. Clearbridge Investments LLC owned approximately 0.33% of Crane NXT worth $11,020,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CXT. Vanguard Group Inc. boosted its position in shares of Crane NXT by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after buying an additional 66,800 shares in the last quarter. State Street Corp increased its stake in Crane NXT by 1.6% during the third quarter. State Street Corp now owns 1,443,518 shares of the company’s stock worth $80,981,000 after acquiring an additional 22,041 shares during the last quarter. Geode Capital Management LLC raised its holdings in Crane NXT by 6.4% in the third quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company’s stock valued at $56,157,000 after buying an additional 60,468 shares during the period. Congress Asset Management Co. lifted its holdings in shares of Crane NXT by 1.3% during the 4th quarter. Congress Asset Management Co. now owns 752,734 shares of the company’s stock valued at $43,824,000 after acquiring an additional 9,921 shares in the last quarter. Finally, Conestoga Capital Advisors LLC purchased a new stake in shares of Crane NXT in the fourth quarter worth about $31,517,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $52.13 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 12-month low of $50.23 and a 12-month high of $67.01. The company’s fifty day moving average is $57.40 and its two-hundred day moving average is $58.00. The company has a market cap of $2.98 billion, a P/E ratio of 16.34 and a beta of 1.32.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) 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%. Equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. Crane NXT’s dividend payout ratio is currently 21.32%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CXT shares. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a report on Tuesday, February 18th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

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.