Cornercap Investment Counsel Inc. Cuts Stake in Crane NXT, Co. (NYSE:CXT)

Cornercap Investment Counsel Inc. cut its holdings in Crane NXT, Co. (NYSE:CXT) by 51.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,207 shares of the company’s stock after selling 4,540 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Crane NXT were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CXT. LRI Investments LLC bought a new position in shares of Crane NXT during the first quarter worth $38,000. nVerses Capital LLC bought a new position in shares of Crane NXT during the 3rd quarter valued at about $45,000. Hobbs Group Advisors LLC purchased a new position in shares of Crane NXT during the second quarter valued at about $52,000. Blue Trust Inc. grew its position in shares of Crane NXT by 27.8% during the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after purchasing an additional 205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CXT shares. DA Davidson restated a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities lowered their price objective on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Robert W. Baird increased their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

Crane NXT Stock Performance

Shares of NYSE:CXT opened at $56.11 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.40 and a beta of 1.33. Crane NXT, Co. has a 12 month low of $50.31 and a 12 month high of $64.80. The firm’s 50-day moving average is $56.05 and its 200 day moving average is $58.42.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s dividend payout ratio is currently 20.98%.

Crane NXT Company 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.