Alliancebernstein L.P. Has $4.10 Million Stock Position in Crane NXT, Co. (NYSE:CXT)

Alliancebernstein L.P. cut its holdings in Crane NXT, Co. (NYSE:CXT) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,402 shares of the company’s stock after selling 999 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of Crane NXT worth $4,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crane NXT in the 3rd quarter valued at approximately $32,000. Fifth Third Bancorp boosted its position in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after buying an additional 276 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Crane NXT by 985.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock worth $95,000 after buying an additional 1,488 shares during the last quarter. Cascade Financial Partners LLC acquired a new position in shares of Crane NXT during the fourth quarter worth $202,000. Finally, Oak Thistle LLC bought a new position in shares of Crane NXT in the 4th quarter valued at $203,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Up 0.6 %

Shares of CXT opened at $45.27 on Monday. The company has a market capitalization of $2.60 billion, a PE ratio of 14.19 and a beta of 1.21. The stock’s 50-day moving average price is $54.00 and its two-hundred day moving average price is $57.18. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.01.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio (DPR) is currently 21.32%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CXT shares. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT 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.