Creative Planning Sells 604 Shares of Crane NXT, Co. (NYSE:CXT)

Creative Planning lowered its stake in shares of Crane NXT, Co. (NYSE:CXT) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,905 shares of the company’s stock after selling 604 shares during the quarter. Creative Planning’s holdings in Crane NXT were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CXT. Pacer Advisors Inc. grew its holdings in Crane NXT by 93.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after acquiring an additional 548,155 shares during the last quarter. Capital International Investors boosted its stake in shares of Crane NXT by 40.0% in the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after purchasing an additional 186,437 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Crane NXT by 97.0% in the 2nd quarter. Hsbc Holdings PLC now owns 247,842 shares of the company’s stock valued at $15,222,000 after purchasing an additional 122,056 shares during the last quarter. Kirr Marbach & Co. LLC IN bought a new position in shares of Crane NXT in the 2nd quarter valued at about $3,565,000. Finally, 1832 Asset Management L.P. boosted its stake in shares of Crane NXT by 91.7% in the 1st quarter. 1832 Asset Management L.P. now owns 108,720 shares of the company’s stock valued at $6,730,000 after purchasing an additional 52,020 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

Shares of NYSE:CXT opened at $53.98 on Monday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 17.19 and a beta of 1.33. The firm’s 50 day simple moving average is $56.41 and its 200 day simple moving average is $58.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. Crane NXT, Co. has a fifty-two week low of $48.42 and a fifty-two week high of $64.80.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $370.60 million for the quarter, compared to the consensus estimate of $367.08 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. Crane NXT’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. As a group, sell-side analysts forecast that Crane NXT, Co. will post 4.27 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently declared 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 was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Crane NXT’s dividend payout ratio is 20.38%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CXT shares. Northland Securities reduced their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Robert W. Baird started coverage on shares of Crane NXT in a research note on Thursday, October 17th. They issued an “outperform” rating and a $77.00 target price on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research note on Monday, September 30th.

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.