Strs Ohio Sells 24,300 Shares of Crane NXT, Co. (NYSE:CXT)

Strs Ohio reduced its stake in Crane NXT, Co. (NYSE:CXT) by 23.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,000 shares of the company’s stock after selling 24,300 shares during the quarter. Strs Ohio owned approximately 0.14% of Crane NXT worth $4,606,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CXT. FMR LLC bought a new position in Crane NXT in the 3rd quarter worth $402,528,000. Vanguard Group Inc. bought a new position in Crane NXT in the 3rd quarter worth $306,517,000. Victory Capital Management Inc. bought a new position in Crane NXT in the 3rd quarter worth $65,919,000. Lord Abbett & CO. LLC bought a new position in Crane NXT in the 3rd quarter worth $39,749,000. Finally, Pacer Advisors Inc. raised its holdings in Crane NXT by 8,855.4% in the 4th quarter. Pacer Advisors Inc. now owns 705,688 shares of the company’s stock worth $40,132,000 after purchasing an additional 697,808 shares during the period. 77.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CXT shares. DA Davidson raised their target price on Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Northland Securities initiated coverage on Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target for the company.

Crane NXT Trading Down 0.1 %

Shares of Crane NXT stock opened at $61.37 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 18.77 and a beta of 1.37. The business has a 50-day moving average price of $60.07 and a 200-day moving average price of $56.33. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. Crane NXT, Co. has a twelve month low of $46.14 and a twelve month high of $63.36.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The firm had revenue of $356.90 million during the quarter, compared to analyst estimates of $340.89 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 earnings per share. Equities research analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a dividend of $0.16 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. Crane NXT’s dividend payout ratio (DPR) is presently 19.57%.

Crane NXT Company 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.