Franklin Resources Inc. Cuts Stake in Crane NXT, Co. (NYSE:CXT)

Franklin Resources Inc. trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 24.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,229 shares of the company’s stock after selling 7,161 shares during the period. Franklin Resources Inc.’s holdings in Crane NXT were worth $1,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CXT. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT in the 3rd quarter valued at about $32,000. nVerses Capital LLC purchased a new stake in Crane NXT during the 3rd quarter valued at $45,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Crane NXT by 16.3% during the second 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. GAMMA Investing LLC grew its stake in shares of Crane NXT by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock worth $144,000 after purchasing an additional 380 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Crane NXT in the 3rd quarter worth approximately $181,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Performance

Crane NXT stock opened at $58.01 on Friday. The stock’s 50 day moving average is $58.08 and its 200 day moving average is $58.19. The company has a market capitalization of $3.32 billion, a P/E ratio of 19.02 and a beta of 1.34. Crane NXT, Co. has a twelve month low of $52.89 and a twelve month high of $64.80. 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 (NYSE:CXT) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, November 29th. Crane NXT’s dividend payout ratio is currently 20.98%.

Wall Street Analyst Weigh In

CXT has been the subject of several research reports. DA Davidson restated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th. Baird R W raised Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. 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. 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 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.