Clearbridge Investments LLC Cuts Holdings in Crane NXT, Co. (NYSE:CXT)

Clearbridge Investments LLC decreased its stake in shares of Crane NXT, Co. (NYSE:CXT) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 195,857 shares of the company’s stock after selling 4,419 shares during the period. Clearbridge Investments LLC’s holdings in Crane NXT were worth $12,030,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CXT. Bank of Nova Scotia boosted its position in shares of Crane NXT by 3.7% during the 4th quarter. Bank of Nova Scotia now owns 7,613 shares of the company’s stock worth $433,000 after acquiring an additional 270 shares in the last quarter. KBC Group NV boosted its position in shares of Crane NXT by 1.9% during the 4th quarter. KBC Group NV now owns 28,999 shares of the company’s stock worth $1,649,000 after acquiring an additional 546 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Crane NXT by 16.0% during the 4th quarter. First Trust Advisors LP now owns 473,808 shares of the company’s stock worth $26,945,000 after acquiring an additional 65,333 shares in the last quarter. Capital International Investors boosted its position in shares of Crane NXT by 22.5% during the 4th quarter. Capital International Investors now owns 466,615 shares of the company’s stock worth $26,536,000 after acquiring an additional 85,688 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of Crane NXT during the 4th quarter worth about $3,225,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th.

Crane NXT Trading Up 0.9 %

NYSE:CXT opened at $55.83 on Friday. The stock has a market cap of $3.19 billion, a P/E ratio of 17.61 and a beta of 1.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. Crane NXT, Co. has a 1 year low of $48.42 and a 1 year high of $64.80. The stock has a 50-day simple moving average of $57.64 and a 200-day simple moving average of $59.69.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. As a group, analysts anticipate that Crane NXT, Co. will post 4.28 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. Crane NXT’s dividend payout ratio (DPR) is presently 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.