Crane NXT, Co. (NYSE:CXT) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 44.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 254,478 shares of the company’s stock after selling 201,065 shares during the quarter. Gamco Investors INC. ET AL owned about 0.45% of Crane NXT worth $15,752,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in shares of Crane NXT during the third quarter worth about $306,517,000. Raymond James & Associates lifted its stake in shares of Crane NXT by 14.5% in the fourth quarter. Raymond James & Associates now owns 101,121 shares of the company’s stock valued at $5,751,000 after purchasing an additional 12,822 shares during the period. International Assets Investment Management LLC purchased a new stake in Crane NXT during the fourth quarter worth $572,000. Venture Visionary Partners LLC boosted its position in shares of Crane NXT by 9.0% in the 4th quarter. Venture Visionary Partners LLC now owns 24,274 shares of the company’s stock worth $1,381,000 after buying an additional 1,995 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Crane NXT during the 4th quarter worth approximately $773,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Up 4.0 %

Shares of NYSE CXT traded up $2.45 during trading on Friday, reaching $63.84. 295,193 shares of the stock were exchanged, compared to its average volume of 340,943. The business’s 50-day moving average price is $60.61 and its 200 day moving average price is $60.03. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 20.14 and a beta of 1.34. Crane NXT, Co. has a twelve month low of $48.42 and a twelve month high of $64.80. The company has a quick ratio of 1.56, a current ratio of 2.12 and a debt-to-equity ratio of 0.66.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. The business had revenue of $313.60 million for the quarter, compared to analysts’ expectations of $311.72 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Crane NXT’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 1.00%. Crane NXT’s payout ratio is 20.19%.

Analysts Set New Price Targets

Separately, Northland Securities started coverage on Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price on the stock.

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.