Arizona State Retirement System Cuts Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Arizona State Retirement System trimmed its position in shares of Crane NXT, Co. (NYSE:CXT) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,497 shares of the company’s stock after selling 232 shares during the quarter. Arizona State Retirement System’s holdings in Crane NXT were worth $768,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC purchased a new position in shares of Crane NXT during the 3rd quarter valued at approximately $28,000. Acadian Asset Management LLC purchased a new stake in Crane NXT in the 3rd quarter worth $28,000. Ronald Blue Trust Inc. purchased a new stake in Crane NXT in the 3rd quarter worth $30,000. Qube Research & Technologies Ltd purchased a new stake in Crane NXT in the 3rd quarter worth $34,000. Finally, New England Capital Financial Advisors LLC purchased a new stake in Crane NXT in the 3rd quarter worth $36,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Trading Up 0.1 %

Shares of CXT opened at $61.44 on Thursday. Crane NXT, Co. has a 52-week low of $46.14 and a 52-week high of $63.36. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average is $60.03 and its two-hundred day moving average is $56.30. The stock has a market cap of $3.51 billion, a PE ratio of 18.79 and a beta of 1.37.

Crane NXT (NYSE:CXT) last announced its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The company had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $340.89 million. During the same quarter in the previous year, the company posted $2.13 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s payout ratio is 19.57%.

Analysts Set New Price Targets

Several brokerages recently commented on CXT. Northland Securities began coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target for the company. DA Davidson boosted their price target on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 18th.

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.