Allspring Global Investments Holdings LLC Sells 61,046 Shares of Crane NXT, Co. (NYSE:CXT)

Allspring Global Investments Holdings LLC cut its position in Crane NXT, Co. (NYSE:CXT) by 39.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 92,017 shares of the company’s stock after selling 61,046 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Crane NXT were worth $5,233,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CXT. CWM LLC acquired a new position in shares of Crane NXT in the third quarter valued at approximately $28,000. AE Wealth Management LLC acquired a new position in Crane NXT in the 3rd quarter valued at approximately $1,731,000. Ronald Blue Trust Inc. acquired a new position in Crane NXT in the 3rd quarter valued at approximately $30,000. Legato Capital Management LLC bought a new position in shares of Crane NXT during the third quarter valued at $774,000. Finally, Carret Asset Management LLC acquired a new position in shares of Crane NXT during the third quarter worth $259,000. 77.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. DA Davidson increased their price objective on Crane NXT from $80.00 to $100.00 and gave the company 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 %

CXT opened at $61.37 on Friday. Crane NXT, Co. has a twelve month low of $46.14 and a twelve month high of $63.36. The company has a fifty day moving average of $60.07 and a 200-day moving average of $56.33. The stock has a market cap of $3.51 billion, a PE ratio of 18.77 and a beta of 1.37. 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 (NYSE:CXT) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The firm had revenue of $356.90 million during the quarter, compared to the consensus estimate of $340.89 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $2.13 EPS. On average, sell-side analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were issued a $0.16 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s payout ratio is presently 19.57%.

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.