Goldman Sachs Group Inc. Decreases Stock Holdings in Crane NXT, Co. $CXT

Goldman Sachs Group Inc. decreased its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,383 shares of the company’s stock after selling 15,044 shares during the period. Goldman Sachs Group Inc. owned about 0.11% of Crane NXT worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CXT. Park Square Financial Group LLC acquired a new stake in shares of Crane NXT during the 4th quarter worth about $26,000. UMB Bank n.a. lifted its stake in Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after purchasing an additional 327 shares during the last quarter. Jones Financial Companies Lllp increased its position in Crane NXT by 120.3% during the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $37,000 after buying an additional 391 shares during the period. Fifth Third Bancorp increased its position in Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after buying an additional 256 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Crane NXT during the first quarter worth approximately $44,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Price Performance

Shares of CXT opened at $57.63 on Friday. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 22.00 and a beta of 1.37. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average of $59.48 and a 200-day moving average of $54.46.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. As a group, analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Crane NXT’s payout ratio is presently 25.95%.

Analyst Ratings Changes

Separately, DA Davidson restated a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Crane NXT 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.