Crane NXT, Co. (NYSE:CXT) Position Trimmed by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in shares of Crane NXT, Co. (NYSE:CXT) by 68.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,891 shares of the company’s stock after selling 8,292 shares during the quarter. SG Americas Securities LLC’s holdings in Crane NXT were worth $218,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CXT. Pacer Advisors Inc. boosted its holdings in shares of Crane NXT by 93.4% during the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after acquiring an additional 548,155 shares during the period. Capital International Investors boosted its holdings in shares of Crane NXT by 40.0% during the first quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after acquiring an additional 186,437 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Crane NXT by 97.0% during the second quarter. Hsbc Holdings PLC now owns 247,842 shares of the company’s stock valued at $15,222,000 after acquiring an additional 122,056 shares during the period. Congress Wealth Management LLC DE acquired a new position in shares of Crane NXT during the first quarter valued at $5,633,000. Finally, Kirr Marbach & Co. LLC IN acquired a new position in shares of Crane NXT during the second quarter valued at $3,565,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of NYSE CXT opened at $55.58 on Wednesday. Crane NXT, Co. has a twelve month low of $48.42 and a twelve month high of $64.80. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 17.53 and a beta of 1.32. The firm has a 50-day moving average of $56.84 and a two-hundred day moving average of $59.26.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. During the same period in the prior year, the company earned $1.12 EPS. Crane NXT’s revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that Crane NXT, Co. will post 4.28 earnings per share for the current fiscal 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s payout ratio is 20.19%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CXT. DA Davidson reissued a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Robert W. Baird started coverage on shares of Crane NXT in a report on Thursday, October 17th. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, Northland Securities reduced their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

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.