Griffin Asset Management Inc. Trims Holdings in Crane NXT, Co. (NYSE:CXT)

Griffin Asset Management Inc. lessened its stake in Crane NXT, Co. (NYSE:CXT) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,850 shares of the company’s stock after selling 325 shares during the period. Griffin Asset Management Inc.’s holdings in Crane NXT were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in Crane NXT during the 3rd quarter worth $32,000. Fifth Third Bancorp lifted its position in shares of Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares during the last quarter. nVerses Capital LLC acquired a new position in Crane NXT in the third quarter worth about $45,000. GAMMA Investing LLC increased its holdings in Crane NXT by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock valued at $144,000 after buying an additional 380 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Crane NXT during the third quarter valued at approximately $181,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Up 0.3 %

NYSE:CXT opened at $63.59 on Wednesday. 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 stock has a 50 day moving average of $60.97 and a 200-day moving average of $58.49. The firm has a market capitalization of $3.64 billion, a PE ratio of 20.85 and a beta of 1.35. Crane NXT, Co. has a 52 week low of $52.89 and a 52 week high of $67.00.

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

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.01%. Crane NXT’s dividend payout ratio is presently 20.98%.

Wall Street Analysts Forecast Growth

CXT has been the subject of several research reports. Northland Securities decreased their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted their target price on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

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.