Crane NXT, Co. (NYSE:CXT) Stock Holdings Lowered by Gabelli Funds LLC

Gabelli Funds LLC reduced its holdings in Crane NXT, Co. (NYSE:CXT) by 20.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,250 shares of the company’s stock after selling 51,300 shares during the quarter. Gabelli Funds LLC owned 0.35% of Crane NXT worth $12,457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. bought a new stake in shares of Crane NXT in the 3rd quarter worth approximately $306,517,000. Victory Capital Management Inc. raised its holdings in shares of Crane NXT by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,235,343 shares of the company’s stock worth $70,254,000 after purchasing an additional 49,106 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Crane NXT in the 4th quarter worth approximately $66,550,000. Dimensional Fund Advisors LP raised its holdings in shares of Crane NXT by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 983,351 shares of the company’s stock worth $55,926,000 after purchasing an additional 85,876 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of Crane NXT by 40.0% during the first quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after acquiring an additional 186,437 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Crane NXT Trading Up 4.0 %

Shares of CXT stock traded up $2.45 during trading hours on Friday, reaching $63.84. 295,193 shares of the stock traded hands, compared to its average volume of 340,943. Crane NXT, Co. has a 1-year low of $48.42 and a 1-year high of $64.80. The business has a fifty day moving average price of $60.61 and a 200 day moving average price of $60.07. The company has a quick ratio of 1.56, a current ratio of 2.12 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.65 billion, a PE ratio of 20.14 and a beta of 1.34.

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

Crane NXT Announces Dividend

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

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.