Minneapolis Portfolio Management Group LLC Has $22.23 Million Stake in Crane NXT, Co. (NYSE:CXT)

Minneapolis Portfolio Management Group LLC trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 381,764 shares of the company’s stock after selling 114,437 shares during the quarter. Crane NXT comprises 2.9% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 20th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Crane NXT were worth $22,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Crane NXT by 60.6% in the third quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after purchasing an additional 16,465 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Crane NXT in the fourth quarter valued at about $527,000. Barclays PLC grew its position in shares of Crane NXT by 45.3% in the third quarter. Barclays PLC now owns 37,663 shares of the company’s stock valued at $2,113,000 after purchasing an additional 11,734 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Crane NXT by 12.3% in the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock valued at $22,224,000 after purchasing an additional 43,439 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Crane NXT in the third quarter valued at about $507,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on CXT. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price on the stock. in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Stock Down 1.1 %

CXT stock opened at $52.94 on Monday. Crane NXT, Co. has a twelve month low of $52.02 and a twelve month high of $67.01. The company has a market cap of $3.03 billion, a PE ratio of 16.59 and a beta of 1.32. The business’s 50-day simple moving average is $59.29 and its 200 day simple moving average is $58.25. 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 (NYSE:CXT) last released its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, research analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were paid a dividend of $0.17 per share. 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 yield of 1.28%. Crane NXT’s dividend payout ratio (DPR) is currently 21.32%.

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.