Welch Group LLC Sells 1,000 Shares of Crane NXT, Co. (NYSE:CXT)

Welch Group LLC decreased its stake in Crane NXT, Co. (NYSE:CXT) by 22.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the company’s stock after selling 1,000 shares during the period. Welch Group LLC’s holdings in Crane NXT were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CXT. Acadian Asset Management LLC bought a new position in shares of Crane NXT in the 3rd quarter worth $28,000. CI Investments Inc. bought a new position in shares of Crane NXT in the 3rd quarter worth $53,000. Assetmark Inc. increased its holdings in shares of Crane NXT by 9,630.0% in the 4th quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after buying an additional 963 shares during the last quarter. USA Financial Formulas bought a new position in shares of Crane NXT in the 3rd quarter worth $105,000. Finally, GAMMA Investing LLC bought a new position in shares of Crane NXT in the 4th quarter worth $112,000. Institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CXT shares. DA Davidson increased their price target on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Northland Securities began coverage on shares of Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective for the company.

Crane NXT Price Performance

Shares of Crane NXT stock opened at $63.80 on Friday. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $63.96. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 20.13 and a beta of 1.35. The company has a fifty day moving average of $61.44 and a 200-day moving average of $59.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12.

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

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st were given 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 currently 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.