Thrivent Financial for Lutherans Sells 396,352 Shares of Crane NXT, Co. (NYSE:CXT)

Thrivent Financial for Lutherans reduced its position in shares of Crane NXT, Co. (NYSE:CXT) by 92.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,542 shares of the company’s stock after selling 396,352 shares during the quarter. Thrivent Financial for Lutherans owned 0.06% of Crane NXT worth $1,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Crane NXT by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,644 shares of the company’s stock worth $1,650,000 after acquiring an additional 1,407 shares during the period. Tidal Investments LLC grew its holdings in shares of Crane NXT by 22.4% during the 1st quarter. Tidal Investments LLC now owns 6,383 shares of the company’s stock valued at $395,000 after purchasing an additional 1,170 shares during the last quarter. Cetera Advisors LLC acquired a new position in Crane NXT during the 1st quarter worth approximately $244,000. GAMMA Investing LLC lifted its stake in Crane NXT by 9.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after purchasing an additional 195 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Crane NXT by 2.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 19,086 shares of the company’s stock valued at $1,172,000 after buying an additional 465 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CXT shares. Robert W. Baird increased their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities dropped their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, DA Davidson restated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th.

Crane NXT Price Performance

Crane NXT stock opened at $62.77 on Friday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 20.58 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $56.41 and a 200 day simple moving average of $58.37. Crane NXT, Co. has a 52 week low of $50.31 and a 52 week high of $64.80.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The company had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the prior year, the business earned $1.09 earnings per share. Crane NXT’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Crane NXT’s dividend payout ratio is currently 20.98%.

Crane NXT Company 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.