Ritholtz Wealth Management Has $312,000 Holdings in Crane NXT, Co. (NYSE:CXT)

Ritholtz Wealth Management lessened its position in shares of Crane NXT, Co. (NYSE:CXT) by 6.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,075 shares of the company’s stock after selling 453 shares during the quarter. Ritholtz Wealth Management’s holdings in Crane NXT were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CXT. Park Square Financial Group LLC acquired a new stake in Crane NXT during the 4th quarter valued at approximately $26,000. UMB Bank n.a. increased its position in Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company’s stock valued at $36,000 after purchasing an additional 327 shares during the period. Quarry LP acquired a new stake in Crane NXT during the 4th quarter valued at approximately $42,000. Fifth Third Bancorp increased its position in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock valued at $42,000 after purchasing an additional 256 shares during the period. Finally, Covestor Ltd increased its position in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company’s stock valued at $43,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Crane NXT stock opened at $54.60 on Friday. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.76 and a beta of 1.30. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01. The stock’s 50 day moving average price is $51.30 and its two-hundred day moving average price is $55.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $330.30 million for the quarter, compared to analysts’ expectations of $318.46 million. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. On average, equities analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, May 30th. Crane NXT’s dividend payout ratio is currently 23.37%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. 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. UBS Group cut their price target on Crane NXT from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

Crane NXT Company 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.