Corebridge Financial Inc. Lowers Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Corebridge Financial Inc. cut its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,640 shares of the company’s stock after selling 2,457 shares during the quarter. Corebridge Financial Inc.’s holdings in Crane NXT were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Crane NXT during the 3rd quarter worth about $32,000. Fifth Third Bancorp increased its position in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after purchasing an additional 1,488 shares during the last quarter. Cascade Financial Partners LLC purchased a new stake in shares of Crane NXT during the 4th quarter valued at $202,000. Finally, Oak Thistle LLC acquired a new stake in shares of Crane NXT during the 4th quarter worth $203,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Crane NXT Trading Up 0.1 %

NYSE:CXT opened at $51.41 on Tuesday. The business’s 50-day moving average is $57.96 and its two-hundred day moving average is $58.09. The firm has a market capitalization of $2.94 billion, a PE ratio of 16.12 and a beta of 1.32. Crane NXT, Co. has a 12 month low of $50.62 and a 12 month high of $67.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. Crane NXT’s dividend payout ratio is 21.32%.

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.