Strs Ohio Reduces Position in Crane NXT, Co. (NYSE:CXT)

Strs Ohio trimmed its position in Crane NXT, Co. (NYSE:CXT) by 23.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 81,000 shares of the company’s stock after selling 24,300 shares during the period. Strs Ohio’s holdings in Crane NXT were worth $4,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CXT. CWM LLC acquired a new position in shares of Crane NXT in the 3rd quarter valued at $28,000. AE Wealth Management LLC acquired a new position in shares of Crane NXT in the 3rd quarter valued at $1,731,000. Ronald Blue Trust Inc. acquired a new position in shares of Crane NXT in the 3rd quarter valued at $30,000. Legato Capital Management LLC acquired a new position in shares of Crane NXT in the 3rd quarter valued at $774,000. Finally, Carret Asset Management LLC acquired a new position in shares of Crane NXT in the 3rd quarter valued at $259,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Price Performance

NYSE:CXT opened at $61.37 on Friday. Crane NXT, Co. has a one year low of $46.14 and a one year high of $63.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93. 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 firm’s fifty day moving average is $60.07 and its two-hundred day moving average is $56.33.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The company had revenue of $356.90 million for the quarter, compared to analyst estimates of $340.89 million. During the same period in the prior year, the company earned $2.13 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Research analysts expect that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on CXT. Northland Securities began coverage on Crane NXT in a research report on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price on the stock. DA Davidson upped their price target on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

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.