Griffin Asset Management Inc. reduces stake in Crane NXT, Co. (NYSE:CXT)

Griffin Asset Management Inc. reduced its stake in Crane NXT, Co. (NYSE:CXT – Free Report) up 75.5% in the first quarter, according to its latest disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,035 shares of the company after selling 21,655 shares during the quarter. Griffin Asset Management Inc. shares in Crane NXT were worth $435,000 at the end of last quarter.

Other hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors LLC increased its holdings in Crane NXT by 30.5% in the first quarter. Atlas Capital Advisors LLC now owns 2,470 shares of the company’s stock worth $153,000 after acquiring an additional 577 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in Crane NXT by 3,331.1% in the first quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after acquiring an additional 578,043 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Crane NXT shares in the fourth quarter worth $418,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Crane NXT shares in the fourth quarter worth $3,526,000. Finally, Wellington Management Group LLP acquired a new stake in Crane NXT during the fourth quarter valued at $66,550,000. Hedge funds and other institutional investors own 77.49% of the company’s shares.

Wall Street analysts predict growth

A number of equities analysts have recently commented on the stock CXT. DA Davidson raised 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 18. Northland Securities began coverage of shares of Crane NXT in a report on Monday, April 8. They issued an “outperform” rating and a price target of $91.00 for the company.

Check out our latest report on CXT

Crane NXT stock performance

Shares of Crane NXT opened at $61.42 on Friday. The company has a 50-day simple moving average of $61.53 and a 200-day simple moving average of $59.66. The company has a market capitalization of $3.51 billion, a PE ratio of 19.38 and a beta of 1.35. Crane NXT, Co. has a one-year low of $48.42 and a one-year high of $64.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12.

Crane NXT (NYSE:CXT – Get Free Report) last released its quarterly results on Wednesday, May 8. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $313.60 million for the quarter, compared to analyst estimates of $311.72 million. Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. The company’s revenue declined by 4.7% year-over-year. During the same quarter last year, the company earned $0.96 EPS. On average, stock research analysts forecast that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12. Shareholders of record on Friday, May 31, received a dividend of $0.16 per share. This represents a dividend of $0.64 on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, May 31. Crane NXT has a Dividend Payout Ratio (DPR) of 20.19%.

About Crane NXT

(free report)

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 its Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic hardware and related software, as well as advanced automation solutions, processing systems, service solutions, remote diagnostics and productivity software solutions.

Wall Street analysts predict growth

Crane NXT stock performance

Crane NXT Dividend Announcement

About Crane NXT

Recommended articles