Raymond James Financial Services Advisors Inc. Sells 6,605 Shares of Crane NXT, Co. (NYSE:CXT)

Raymond James Financial Services Advisors Inc. lessened its stake in Crane NXT, Co. (NYSE:CXT) by 42.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,069 shares of the company’s stock after selling 6,605 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Crane NXT were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CXT. CWM LLC bought a new stake in shares of Crane NXT in the 3rd quarter valued at about $28,000. AE Wealth Management LLC purchased a new position in Crane NXT during the 3rd quarter valued at about $1,731,000. Ronald Blue Trust Inc. purchased a new position in Crane NXT during the 3rd quarter valued at about $30,000. Ritholtz Wealth Management purchased a new position in Crane NXT during the 3rd quarter valued at about $364,000. Finally, Venture Visionary Partners LLC purchased a new position in Crane NXT during the 3rd quarter valued at about $1,238,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Down 0.1 %

CXT stock opened at $61.33 on Friday. Crane NXT, Co. has a fifty-two week low of $46.14 and a fifty-two week high of $63.36. The business’s 50 day moving average price is $60.09 and its two-hundred day moving average price is $56.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.76 and a beta of 1.37.

Crane NXT (NYSE:CXT) last posted its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The firm had revenue of $356.90 million for the quarter, compared to the consensus estimate of $340.89 million. During the same quarter in the prior year, the business earned $2.13 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a $0.16 dividend. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, February 28th. Crane NXT’s payout ratio is currently 19.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CXT shares. DA Davidson boosted their price target on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th. Northland Securities started coverage on Crane NXT in a report on Monday, April 8th. They set an “outperform” rating and a $91.00 price target on the stock.

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.