Nuveen Asset Management LLC Sells 33,147 Shares of Crane NXT, Co. (NYSE:CXT)

Nuveen Asset Management LLC trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 283,149 shares of the company’s stock after selling 33,147 shares during the period. Nuveen Asset Management LLC owned approximately 0.50% of Crane NXT worth $16,485,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Fifth Third Bancorp grew its position in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares during the period. Quarry LP purchased a new stake in shares of Crane NXT in the 4th quarter worth $42,000. Covestor Ltd boosted its holdings in Crane NXT by 38.6% in the 4th quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after buying an additional 206 shares during the period. Lazard Asset Management LLC bought a new position in Crane NXT in the 4th quarter worth $83,000. Finally, Venturi Wealth Management LLC boosted its holdings in Crane NXT by 985.4% in the 4th 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 period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Trading Down 0.3%

Shares of CXT stock opened at $52.09 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock has a market capitalization of $2.99 billion, a P/E ratio of 16.33 and a beta of 1.27. The company has a 50 day moving average price of $49.21 and a 200 day moving average price of $55.88. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. The company had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $318.46 million. During the same quarter in the previous year, the business posted $0.85 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Crane NXT, Co. will post 4.16 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 11th. Shareholders of record on Friday, May 30th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. Crane NXT’s payout ratio is currently 23.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CXT. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities downgraded shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. DA Davidson decreased their target price on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, UBS Group decreased their price target on shares of Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Three investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.75.

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.