Carret Asset Management LLC Sells 700 Shares of Crane NXT, Co. (NYSE:CXT)

Carret Asset Management LLC cut its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,860 shares of the company’s stock after selling 700 shares during the period. Carret Asset Management LLC’s holdings in Crane NXT were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LRI Investments LLC bought a new stake in Crane NXT during the 1st quarter worth approximately $38,000. nVerses Capital LLC bought a new stake in Crane NXT during the third quarter worth $45,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT during the second quarter worth $52,000. Blue Trust Inc. lifted its stake in Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Performance

Shares of CXT stock opened at $55.26 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 17.43 and a beta of 1.32. Crane NXT, Co. has a 52 week low of $48.42 and a 52 week high of $64.80. The firm’s 50-day simple moving average is $56.68 and its two-hundred day simple moving average is $59.11.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. The firm had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, equities analysts forecast that Crane NXT, Co. will post 4.28 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Crane NXT’s dividend payout ratio (DPR) is presently 20.19%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Northland Securities dropped their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird began coverage on Crane NXT in a report on Thursday, October 17th. They issued an “outperform” rating and a $77.00 target price for the company. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

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.