Federated Hermes Inc. Lowers Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Federated Hermes Inc. lowered its stake in Crane NXT, Co. (NYSE:CXT) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,898 shares of the company’s stock after selling 781 shares during the period. Federated Hermes Inc.’s holdings in Crane NXT were worth $165,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CXT. FMR LLC purchased a new position in Crane NXT during the 3rd quarter worth $402,528,000. Vanguard Group Inc. acquired a new position in shares of Crane NXT during the third quarter worth about $306,517,000. Victory Capital Management Inc. purchased a new stake in Crane NXT in the 3rd quarter valued at approximately $65,919,000. Lord Abbett & CO. LLC purchased a new stake in Crane NXT in the 3rd quarter valued at approximately $39,749,000. Finally, Pacer Advisors Inc. increased its position in Crane NXT by 8,855.4% during the 4th quarter. Pacer Advisors Inc. now owns 705,688 shares of the company’s stock worth $40,132,000 after purchasing an additional 697,808 shares during the period. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $61.52 on Monday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 18.81 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. The business’s 50 day simple moving average is $60.60 and its 200-day simple moving average is $57.00. Crane NXT, Co. has a 12 month low of $46.14 and a 12 month high of $63.89.

Crane NXT (NYSE:CXT) last posted its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. The company had revenue of $356.90 million for the quarter, compared to analyst estimates of $340.89 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. Crane NXT’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. As a group, equities 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 declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s dividend payout ratio is 19.57%.

Analyst Ratings Changes

A number of analysts recently weighed in on CXT shares. Northland Securities started coverage on Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target on the stock. DA Davidson boosted their target price on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 18th.

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.