Independent Advisor Alliance Reduces Position in Crane NXT, Co. (NYSE:CXT)

Independent Advisor Alliance decreased its stake in shares of Crane NXT, Co. (NYSE:CXT) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,120 shares of the company’s stock after selling 355 shares during the quarter. Independent Advisor Alliance’s holdings in Crane NXT were worth $287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Crane NXT by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,644 shares of the company’s stock worth $1,650,000 after acquiring an additional 1,407 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Crane NXT by 22.4% in the first quarter. Tidal Investments LLC now owns 6,383 shares of the company’s stock worth $395,000 after purchasing an additional 1,170 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Crane NXT during the first quarter worth about $244,000. GAMMA Investing LLC boosted its position in Crane NXT by 9.8% in the second quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after buying an additional 195 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Crane NXT by 2.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 19,086 shares of the company’s stock worth $1,172,000 after buying an additional 465 shares during the period. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CXT has been the subject of several research reports. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities lowered their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. DA Davidson reiterated a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Finally, Robert W. Baird upped their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Crane NXT Stock Down 0.7 %

CXT stock opened at $62.77 on Friday. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The firm’s fifty day moving average is $56.41 and its 200 day moving average is $58.37. The firm has a market cap of $3.59 billion, a PE ratio of 20.58 and a beta of 1.33.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. The firm had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. Crane NXT’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. On average, research analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. Crane NXT’s dividend payout ratio (DPR) is 20.98%.

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.