The Manufacturers Life Insurance Company Reduces Holdings in Crane NXT, Co. (NYSE:CXT)

The Manufacturers Life Insurance Company decreased its position in Crane NXT, Co. (NYSE:CXTFree Report) by 24.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,929 shares of the company’s stock after selling 137,028 shares during the period. The Manufacturers Life Insurance Company’s holdings in Crane NXT were worth $24,678,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CXT. Acadian Asset Management LLC acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $28,000. CI Investments Inc. acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $53,000. Assetmark Inc. lifted its holdings in shares of Crane NXT by 9,630.0% in the 4th quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after acquiring an additional 963 shares during the last quarter. EMC Capital Management acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $89,000. Finally, USA Financial Formulas acquired a new position in shares of Crane NXT in the 3rd quarter worth approximately $105,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Northland Securities assumed coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective on the stock. DA Davidson increased their target price on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 18th.

View Our Latest Stock Analysis on Crane NXT

Crane NXT Price Performance

Crane NXT stock opened at $61.01 on Friday. The firm has a market cap of $3.49 billion, a PE ratio of 19.25 and a beta of 1.35. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $63.89. The company has a quick ratio of 1.56, a current ratio of 2.12 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $61.20 and its two-hundred day moving average is $58.52.

Crane NXT (NYSE:CXTGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $313.60 million for the quarter, compared to analyst estimates of $311.72 million. Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. Crane NXT’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. On average, research analysts expect that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Crane NXT’s payout ratio is 20.19%.

About Crane NXT

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Crane NXT (NYSE:CXT)

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