Thrivent Financial for Lutherans Sells 396,352 Shares of Crane NXT, Co. (NYSE:CXT)

Thrivent Financial for Lutherans trimmed its holdings in Crane NXT, Co. (NYSE:CXT) by 92.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 33,542 shares of the company’s stock after selling 396,352 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Crane NXT were worth $1,882,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CXT. GAMMA Investing LLC boosted its position in Crane NXT by 9.8% during the second quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after buying an additional 195 shares during the period. Blue Trust Inc. lifted its stake in shares of Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares during the last quarter. Atria Investments Inc boosted its holdings in Crane NXT by 6.0% during the 3rd quarter. Atria Investments Inc now owns 3,700 shares of the company’s stock valued at $208,000 after acquiring an additional 208 shares during the period. Oppenheimer Asset Management Inc. grew its position in Crane NXT by 1.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,923 shares of the company’s stock worth $725,000 after acquiring an additional 245 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Crane NXT by 16.3% in the 2nd 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 period. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

NYSE:CXT opened at $62.77 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. Crane NXT, Co. has a twelve month low of $50.31 and a twelve month high of $64.80. The firm’s fifty day simple moving average is $56.41 and its 200 day simple moving average is $58.37. The stock has a market cap of $3.59 billion, a P/E ratio of 20.58 and a beta of 1.33.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating 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 company had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. During the same period last year, the firm posted $1.09 earnings per share. Crane NXT’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.02%. Crane NXT’s payout ratio is 20.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CXT. Northland Securities dropped 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. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. DA Davidson restated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Finally, Robert W. Baird upped their price objective 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.

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.