Central Pacific Bank Trust Division Cuts Position in Crane NXT, Co. (NYSE:CXT)

Central Pacific Bank Trust Division cut its stake in Crane NXT, Co. (NYSE:CXT) by 43.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,800 shares of the company’s stock after selling 2,180 shares during the period. Central Pacific Bank Trust Division’s holdings in Crane NXT were worth $157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE purchased a new position in Crane NXT in the first quarter worth $5,633,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Crane NXT in the fourth quarter worth $3,526,000. Congress Asset Management Co. MA grew its position 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. Wellington Management Group LLP purchased a new position in Crane NXT in the fourth quarter worth $66,550,000. Finally, SG Americas Securities LLC purchased a new position in Crane NXT in the second quarter worth $748,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

NYSE CXT opened at $55.83 on Friday. The company has a 50-day simple moving average of $57.64 and a two-hundred day simple moving average of $59.69. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. Crane NXT, Co. has a 12-month low of $48.42 and a 12-month high of $64.80. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 17.61 and a beta of 1.33.

Crane NXT (NYSE:CXT) last posted its quarterly 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. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The business had revenue of $370.60 million during the quarter, compared to analyst estimates of $367.08 million. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Crane NXT, Co. will post 4.28 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.15%. Crane NXT’s payout ratio is 20.19%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research report on Monday, September 30th.

Crane NXT Profile

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.