RNC Capital Management LLC Sells 12,045 Shares of Crane NXT, Co. $CXT

RNC Capital Management LLC reduced its position in Crane NXT, Co. (NYSE:CXT) by 65.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,430 shares of the company’s stock after selling 12,045 shares during the quarter. RNC Capital Management LLC’s holdings in Crane NXT were worth $303,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CXT. Alliancebernstein L.P. boosted its position in shares of Crane NXT by 2,449.9% during the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after buying an additional 1,701,361 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Crane NXT during the third quarter valued at approximately $35,309,000. Victory Capital Management Inc. boosted its position in shares of Crane NXT by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,635,770 shares of the company’s stock valued at $109,711,000 after buying an additional 260,986 shares during the period. Channing Capital Management LLC purchased a new position in shares of Crane NXT during the third quarter valued at approximately $14,384,000. Finally, Thornburg Investment Management Inc. purchased a new position in shares of Crane NXT during the third quarter valued at approximately $9,923,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 0.3%

NYSE CXT opened at $44.35 on Wednesday. The company’s 50-day moving average price is $44.41 and its 200-day moving average price is $51.21. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. The stock has a market cap of $2.55 billion, a PE ratio of 17.67 and a beta of 1.21. Crane NXT, Co. has a 12 month low of $39.23 and a 12 month high of $69.00.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $476.90 million for the quarter, compared to analysts’ expectations of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. Equities research analysts forecast that Crane NXT, Co. will post 4.29 earnings per share for the current year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, February 27th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio (DPR) is currently 28.69%.

Analyst Ratings Changes

CXT has been the subject of several recent analyst reports. Oppenheimer dropped their target price on Crane NXT from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings lowered Crane NXT from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Zacks Research cut shares of Crane NXT from a “hold” rating to a “strong sell” rating in a report on Friday, April 17th. Northland Securities set a $62.00 price target on shares of Crane NXT in a report on Wednesday, February 18th. Finally, UBS Group set a $58.00 price target on shares of Crane NXT in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.