Crane NXT, Co. (NYSE:CXT) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC cut its stake in shares of Crane NXT, Co. (NYSE:CXT) by 34.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,231 shares of the company’s stock after selling 3,750 shares during the quarter. Verition Fund Management LLC’s holdings in Crane NXT were worth $406,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CXT. FORA Capital LLC acquired a new stake in Crane NXT in the third quarter valued at $507,000. SG Americas Securities LLC acquired a new stake in Crane NXT in the second quarter valued at $748,000. D.A. Davidson & CO. lifted its holdings in Crane NXT by 20.7% in the third quarter. D.A. Davidson & CO. now owns 156,739 shares of the company’s stock valued at $8,793,000 after acquiring an additional 26,841 shares during the period. Radnor Capital Management LLC acquired a new stake in Crane NXT in the third quarter valued at $948,000. Finally, Victory Capital Management Inc. lifted its holdings in Crane NXT by 2.8% in the third quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock valued at $68,372,000 after acquiring an additional 33,664 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Trading Down 0.8 %

Crane NXT stock opened at $60.83 on Friday. The stock has a market cap of $3.48 billion, a PE ratio of 19.94 and a beta of 1.34. The stock has a 50-day moving average price of $57.50 and a 200 day moving average price of $58.46. Crane NXT, Co. has a 52 week low of $50.37 and a 52 week high of $64.80. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60.

Crane NXT (NYSE:CXT) last posted 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 analysts’ expectations of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. Equities research analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CXT shares. Baird R W upgraded 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 target on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities dropped their price target 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. Finally, Robert W. Baird raised their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research report 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.