Federated Hermes Inc. Sells 1,929 Shares of Crane NXT, Co. (NYSE:CXT)

Federated Hermes Inc. cut its stake in shares of Crane NXT, Co. (NYSE:CXT) by 39.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,922 shares of the company’s stock after selling 1,929 shares during the quarter. Federated Hermes Inc.’s holdings in Crane NXT were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CXT. Wellington Management Group LLP bought a new stake in shares of Crane NXT during the 4th quarter valued at approximately $66,550,000. Congress Asset Management Co. MA grew its holdings in shares of Crane NXT by 3,331.1% during the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock valued at $36,855,000 after purchasing an additional 578,043 shares during the last quarter. Capital International Investors grew its holdings in shares of Crane NXT by 40.0% during the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after purchasing an additional 186,437 shares during the last quarter. Axiom Investors LLC DE grew its holdings in shares of Crane NXT by 187.9% during the 4th quarter. Axiom Investors LLC DE now owns 219,740 shares of the company’s stock valued at $12,497,000 after purchasing an additional 143,410 shares during the last quarter. Finally, Congress Wealth Management LLC DE bought a new stake in Crane NXT during the 1st quarter worth approximately $5,633,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Trading Up 1.9 %

CXT opened at $59.64 on Wednesday. Crane NXT, Co. has a fifty-two week low of $48.42 and a fifty-two week high of $64.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 18.81 and a beta of 1.33. The company’s 50 day moving average price is $58.33 and its two-hundred day moving average price is $59.91.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping 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 firm had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. During the same period in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Crane NXT, Co. will post 4.28 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Crane NXT’s payout ratio is 20.19%.

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.