JPMorgan Chase & Co. Trims Holdings in Crane NXT, Co. (NYSE:CXT)

JPMorgan Chase & Co. lowered its stake in shares of Crane NXT, Co. (NYSE:CXT) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 135,676 shares of the company’s stock after selling 1,641 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of Crane NXT worth $7,611,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Crane NXT during the 3rd quarter worth approximately $32,000. nVerses Capital LLC purchased a new stake in shares of Crane NXT during the 3rd quarter worth $45,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Crane NXT by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares in the last quarter. GAMMA Investing LLC increased its holdings in Crane NXT by 17.4% in the third quarter. GAMMA Investing LLC now owns 2,567 shares of the company’s stock valued at $144,000 after buying an additional 380 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Crane NXT in the third quarter valued at $181,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Price Performance

Crane NXT stock opened at $63.55 on Wednesday. Crane NXT, Co. has a 52 week low of $52.89 and a 52 week high of $64.80. The firm has a market capitalization of $3.63 billion, a PE ratio of 20.84 and a beta of 1.35. 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 firm’s 50-day simple moving average is $59.36 and its 200 day simple moving average is $58.02.

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

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, November 29th. Crane NXT’s dividend payout ratio is presently 20.98%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CXT. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Northland Securities decreased their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday, September 30th. Finally, Robert W. Baird increased their price objective on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

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.